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Cryptocurrency exchange hit with €1 million fine by FIAU

Summary by Times of Malta

A cryptocurrency exchange has been hit with a €1 million fine for anti-money laundering breaches found during an FIAU inspection in 2023.In a public notice, the FIAU, Malta’s anti-money laundering watchdog, said OKCoin Europe had failed to properly scrutinise $20 million (€18 million) worth of transactions found in 80% of the customer files reviewed.OKCoin Europe...

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Times of Malta

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Cryptocurrency exchange hit with €1 million fine by FIAU

5 days ago

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Coin Desk

Center

Crypto Exchange OKX Fined $1.2M by Malta for Breaching Money Laundering Rules

OKX's Europe company—also known as OKCoin Europe, a subsidiary of crypto exchange OKX—was fined 1.05 million euros ($1.2 million) by Malta's financial watchdog on Thursday for breaching the country's money laundering rules.The Financial Intelligence Analysis Unit (FIAU) said the company failed to assess the money laundering and financing of terrorism risks emanating from the products it offers and had violated parts of the country's Prevention o…

6 days ago·Manila, Philippines

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vinciworks.com

Lessons from a sanctions compliance failure: What we can learn from OFSI’s penalty against HSF Moscow - VinciWorks

This past March, the UK’s Office of Financial Sanctions Implementation (OFSI) imposed a £465K penalty on Herbert Smith Freehills CIS LLP (HSF Moscow) for breaches of UK financial sanctions related to Russia’s invasion of Ukraine. The penalty stemmed from six payments totaling nearly £4 million to sanctioned entities, made during a rapid wind-down of HSF’s Russian operations.While the legal sector is at the center of this particular case, the imp…

2 days ago

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World NEWS Live

Malta Regulator Fines OKX $1.2M for Past AML Compliance Failures - WorldNL Magazine

TLDR Malta’s Financial Intelligence Analysis Unit (FIAU) fined OKX’s European arm $1.2 million for AML violations Issues included inadequate risk assessment for cryptocurrency mixers, privacy coins, and other high-risk activities OKX received a MiCA license in January 2025 despite past compliance issues The exchange has reportedly improved its AML policies over the past 18 months OKX faces separate allegations regarding potential involvement in…

3 days ago

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Blockonomi

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Bitcoin Ethereum News

Malta Regulator Fines OKX $1.2M for Past AML Compliance Failures

3 days ago

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amlintelligence.com

NEWS: OKX fined €1.1M by Malta watchdog for AML breaches - AML Intelligence

By PAUL O’DONOGHUE, Senior Correspondent THE Malta financial watchdog has fined the European arm of OKX €1.1 million ($1.2 million) for anti-money laundering (AML) failures in 2023. The Financial Intelligence Analysis Unit (FIAU) issued the penalty on April 3. It cited “serious and systematic” breaches by Okcoin Europe, the Malta-based entity representing OKX in the European Union. The FIAU said OKX had improved its AML policies over the past 18…

3 days ago

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