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Maltese FIAU fines investment company over €300,000 for money laundering violations

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By Alisha Houlihan for AMLi

The Maltese Financial Intelligence Analysis Unit (FIAU) has slapped an investment company with a €300,000 fine for several anti-money laundering deficiencies, leading to millions of euros being invested without adequate controls. 

The Southern Cross (SICAV) plc, was fined €303,710 by the FIAU for four violations of the Preventing Money Laundering and Funding of Terrorism Regulations. 

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NEWS: Thales, Europe’s largest defence technology company, faces bribery probe from UK’s SFO

BREAKING: UK sanctions trio of wealthy oligarchs in new campaign against dirty money

INSIGHT: Corporate secrecy ‘scourge’ in fight against fincrime, time for fully public BO registers, says Financial Times

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