Bequant crypto prime broker and exchange firms fined in Malta for risk assessment, CDD, monitoring breaches

Malta-based virtual asset service provider (VASP) Bequant has been fined twice after the Financial Intelligence Analysis Unit (FIAU) discovered wide-ranging anti-money laundering failings during a 2021 review: Bequant Exchange Ltd (BEL), which is to relinquish its licence, must pay €220,992, and Bequant Pro Ltd (BPL), was given a €242,243 penalty.

Malta-based virtual asset service provider (VASP) Bequant has been fined twice after the Financial Intelligence Analysis Unit (FIAU) discovered wide-ranging anti-money laundering failings during a 2021 review: Bequant Exchange Ltd (BEL), which is to relinquish its licence [1], must pay €220,992 [2], and Bequant Pro Ltd (BPL), was given a €242,243 penalty. [3]