• Administrative Penalties - 2018

    • 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.

      Article 13C of the PMLA provides for administrative penalties in excess of €10,000, imposed with respect of one or more contraventions of the PMLA and/or the PMLFTR, and which have become final and due, to be published in accordance with policies and procedures established by the Board of Governors of the FIAU. This article was introduced in the PMLA by virtue of Act XXVIII which came into force on 1 December 2017, and replaced Article 13A which had previously regulated the publication of administrative penalties.  

      Subsequently, the Board of Governors revised the pre-existing policies and procedures governing the publication of sanctions, with the revised version being accessible through the following link:

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