Maltese Bank EECM Bank has been fined €310,217 for anti-money laundering failings.
Malta's Financial Intelligence Analysis Unit (FIAU) said it did not have adequate business and customer risk assessment measures in place.
Although the FIAU conceded that ECCM's business model exposed it to fewer risks than other banks, it said the bank still has an obligation to carry out a comprehensive business risk assessment in a timely manner.
EECM did not draft ...
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