Tag: Alter Domus Trustee Services Malta

Malta FIUA fines Southern Cross SICAV for money-laundering issues!

FIU Malta Ben - January 11, 2022

Allegedly, millions flowed through the Maltese investment fund Southern Cross SICAV plc without proper controls to prevent money-laundering and terrorism financing. The Maltese FIAU found that Southern Cross SIVAC had a “disregard” for its anti-money laundering obligations. The fund is in the process of surrendering its MFSA license. The FIU has imposed a fine on the company in the amount of €303,710 for the “serious” failures during its years in operation.

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