• Administrative Penalties - 2017

    • The FIAU may sanction subject persons for any contravention of the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR) as well as any failure to comply with any lawful requirement, order or directive issued by the FIAU under the PMLFTR or the Prevention of Money Laundering Act (PMLA). When imposing a sanction according to law, the FIAU may either impose an administrative penalty or issue a reprimand in writing.

      In accordance with the provisions of Article 13A of the PMLA, introduced by virtue of Act III of 2015, which came into force on the 20 of February 2015, all administrative penalties amounting to or exceeding €1500 imposed by the FIAU in respect of one or more contraventions, which were identified on or after the aforementioned date, are published in line with the policies and procedures established by the Board of Governors of the FIAU. These policies and procedures may be accessed through the following link:

      Publication of AML/CFT Penalties - Policies and Procedures

      A summary of the decisions of the FIAU and other relevant information is provided in the paragraphs below.