ESTONIA SHUTS DOWN PAYMENT SERVICES COMPANY OVER AML INFRACTIONS

KYC 360 on 29th May reported that Estonia’s financial supervisor said it had revoked the operating licence of payment services provider GFC Good Finance Company AS over its failure to comply with the country’s AML laws, and citing repeated warning and multiple monetary penalties, and cited an injunction issued to the firm following an October 2017 on-site inspection that found “serious violations and shortcomings in all areas” examined.

https://www.riskscreen.com/kyc360/news/estonia-shuts-down-payment-services-company-over-aml-infractions/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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