Tag: Corporate Commercial FX Services

Malta’s FIAU over-fined a company five times more than the law permitted!

FIU Malta tamir - April 27, 2022

On the last day of 2019, FIAU fined the then MFSA-regulated Maltese financial institution Corporate & Commercial FX Services Ltd (CCFX), some €156,202. The company immediately appealed this fine. The Malta Court of Appeal (Civil Inferior), after more than two years, delivered its judgment. According to Judge Lawrence Mintoff, the fine should have been €31,240. However, the criticized Maltese FIAU fined the company five times more than what the law permitted.

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