SICAV fund fined over 'millions invested without robust controls'

clock • 2 min read
SICAV fund fined over 'millions invested without robust controls'

Maltese investment fund Southern Cross SICAV was fined €303,710 over "failures" in its anti-money laundering obligations, the island's Financial Intelligence Analysis Unit (FIAU) said in a public notice issued on 5 January. The FIAU, which has been operating since 1 October 2002, is the national central agency in Malta that is responsible for the collection, collation, processing, analysis and dissemination of information to combat money laundering and the funding of terrorism. Although...

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