A settlement agreement has been reached with the CIF Credit Financier Invest (CFI) Limited for possible violations of the Prevention and Suppression of Money Laundering and Terrorist Financing Law as amended of 2007 (the ‘Law’), as these appeared on an inspection taking place in December 2020.
More specifically, the settlement reached involved the assessment of the Company’s compliance:
- regarding the application of adequate and appropriate procedures in relation to customer identification and customer due diligence,
- regarding the detailed examination of each transaction which by its nature may be considered to be particularly vulnerable to be associated with money laundering offenses or terrorist financing, and
- regarding to informing the Company’s employees in relation to the systems and procedures that the Company follows.
The settlement reached with the Company, regarding the possible violations of its regulatory
obligations, amounts to €150.000.
The Company already settled the amount of €150.000.
