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Credence fined in Malta for risk assessment, due diligence & monitoring flaws

Money Laundering Bulletin

Credence fined in Malta for risk assessment, due diligence & monitoring flaws

Two firms operating under the same lead name – Credence Corporate and Advisory Services Ltd (CCAS) and Credence Fiduciary Ltd (CF) – which breached Malta’s Prevention of Money Laundering and Funding of Terrorism Regulations must pay €143,119 [1] and €118,365 [2], respectively, after enforcement action by the Financial Intelligence Analysis Unit (FIAU).

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