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Tag: Integra Private Wealth

Courts Rule That Malta’s FIAU Hugely Over-Fined Firms and Professionals To Impress FATF!

FATF Ben -
Malta was grey listed by the Financial Action Task Force (FATF) in June 2021. This had been long coming. In a bid to not become grey listed and impress the FATF, Malta’s Financial Intelligence Analysis Unit (FIAU) was over-fining individuals and firms. The FATF did not fall for such games and grey-listed Malta. The FIAU continued issuing very high fines to targeted companies and individuals. Malta has now been removed from the FATF grey list after a year. Some companies and individuals who were hugely fined took legal action against the FIAU.

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