OKCoin Europe fined €1.05m in Malta for CDD, monitoring, reporting breaches

Virtual asset service provider OKCoin Europe Ltd has been ordered to pay €1,054,269 (US$1,153,845) by Malta's Financial Intelligence Analysis Unit (FIAU) following an onsite inspection, in April 2023, which discovered non-compliance with the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR).

Virtual asset service provider OKCoin Europe Ltd has been ordered to pay €1,054,269 (US$1,153,845) by Malta's Financial Intelligence Analysis Unit (FIAU) following an onsite inspection, in April 2023, which discovered non-compliance with the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR). [1]