Two directors of a financial services firm are claiming in court that money laundering proceedings against them should be dropped because they run counter to th
Former Malta Gaming Authority CEO Heathcliff Farrugia colluded with murder suspect Yorgen Fenech to try to prevent the publication of findings of an inspection revealing weak anti-money laundering controls at the Tumas Gaming casinos.
The two casinos, which were at the time run by Fenech as Tumas Gaming’s CEO, were the subject of a joint compliance inspection by the FIAU and MGA in 2018 to ensure their adherence with laws designed to prevent money laundering.
Inspectors found several breaches of these laws, including a “complete failure” to establish the source of funds and wealth of the casino customers.
The findings also highlighted how the money-laundering reporting officer at the casinos struggled to prove his knowledge of the relevant anti-money laundering laws.
€30,000 FIAU fine for Baltimore confirmed on appeal
A Maltese financial services provider has had a €30,000 fine for regulatory breaches confirmed on appeal after an inquiry found evidence of money laundering
19 February 2021, 7:31am
by Matthew Agius
A Maltese financial services provider that was at the heart of a government inquiry after a police investigation into its clients and money laundering was halted, has had a €30,000 fine for regulatory breaches confirmed on appeal.
The CapitalOne inquiry was launched after MaltaToday revealed that in January 2013 – right at the start of the general election campaign that year – police did not investigate leads on alleged money laundering through the company CapitalOne Investment, whose ownership was held in Malta by Baltimore Fiduciary as nominee.
The Christian Association of Nigeria (CAN), Oyo State chapter, says it is in support of the state government’s decision to close down any church that flouts the COVID-19 prevention protocols.