Ifina SICAV fined €60,141 in Malta for ML/TF risk assessment failings

A collective investment scheme has been ordered to pay a €60,141 penalty after the Maltese Financial Intelligence Analysis Unit (FIAU) uncovered shortcomings in its business and customer money laundering and terrorist financing risk assessments during a compliance review in 2021.

A collective investment scheme has been ordered to pay a €60,141 penalty after the Maltese Financial Intelligence Analysis Unit (FIAU) uncovered shortcomings in its business and customer money laundering and terrorist financing risk assessments during a compliance review in 2021. [1]