MALTESE NOTARY HIT WITH HEAVY FINE AS FIU CONTINUES CRACKDOWN OF AML FAILURES
September 1st, 2021
A MALTESE notary has become the latest victim of increased zeal in Malta by regulators to punish breaches of this European Union (EU) member state’s AML/CFT legislation.
Dr Roderick Caruana has been fined EUR61,573 by the Malta Financial Intelligence Analysis Unit (FIAU) and ordered to demonstrate future compliance with Maltese AML/CFT laws, or further punishments will follow.
The FIU detailed a long series of regulatory breaches by Dr Caruana, whose office is in Luqa, near Malta International Airport, where he failed to undertake sufficient CDD procedures. ...
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