MALTA: BANK OWNED BY DUTCH BILLIONAIRE FINED FOR AML BREACHES

On 8 September, the Times of Malta reported that a Malta-based bank owned by a Dutch billionaire has been fined by the FIAU for shortcomings in its efforts to detect potential money laundering.  Novum Bank, owned by Dutch entrepreneur Marcel Boekhoorn, was hit with an €89,000 fine and ordered to tighten up its checks on clients.

https://timesofmalta.com/articles/view/bank-owned-dutch-billionaire-fined-antimoney-laundering-breaches.978758

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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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