BNF Bank fined €189,274 in Malta for risk assessment, monitoring, record-keeping breaches

An offsite review by Malta's Financial Intelligence Analysis Unit, in 2020, of BNF Bank Plc found failings in its anti-money laundering controls that have resulted in a €189,274 penalty, a reprimand and instruction to correct the faults.

An offsite review by Malta's Financial Intelligence Analysis Unit (FIAU), in 2020, of BNF Bank Plc found failings in its anti-money laundering controls that have resulted in a €189,274 penalty, a reprimand and instruction to correct the faults. [1]