Money Laundering Bulletin

Timon Molloy

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Qatar fines Horizon Crescent Wealth QR30m over AML due diligence breaches

Horizon Crescent Wealth LLC must pay QR30,000,000 (US$8,239,500)after a tribunal confirmed on 19 March [2020] Qatar Financial Centre RegulatoryAuthority (QFCRA) findings that the trust administrator had committed seriousbreaches of the Gulf state’s Anti-Money Laundering and Combating TerroristFinancing Rules 2010 (AML/CFTR).

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