The Cyprus Securities and Exchange Commission
(CySEC) has reached a settlement of an amount worth €200,000 with Fintailor
Investments Ltd. According to the regulator, this settlement relates to
potential breaches of the regulations related to the prevention of money
laundering by the firm.
CySEC’s investigation into Fintailor Investments,
spanning the period 2016-2019, primarily focused on the company’s adherence to
anti-money laundering and counter-terrorist financing regulations.
The settlement pertained to various aspects,
including the application of adequate customer identification procedures,
examination of transactions susceptible to money laundering, and compliance
with the responsibilities of the Board of Directors and the compliance officer.
The settlement reached between the CySEC and
Fintailor Investments amounted to €200,000, which the company promptly paid. As
part of CySEC’s oversight, Fintailor Investments is reportedly undergoing
examination for voluntary renunciation of its authorization.
The Cyprus Securities and Exchange Commission
(CySEC) has reached a settlement of an amount worth €200,000 with Fintailor
Investments Ltd. According to the regulator, this settlement relates to
potential breaches of the regulations related to the prevention of money
laundering by the firm.
CySEC’s investigation into Fintailor Investments,
spanning the period 2016-2019, primarily focused on the company’s adherence to
anti-money laundering and counter-terrorist financing regulations.
The settlement pertained to various aspects,
including the application of adequate customer identification procedures,
examination of transactions susceptible to money laundering, and compliance
with the responsibilities of the Board of Directors and the compliance officer.
The settlement reached between the CySEC and
Fintailor Investments amounted to €200,000, which the company promptly paid. As
part of CySEC’s oversight, Fintailor Investments is reportedly undergoing
examination for voluntary renunciation of its authorization.
