OKX receives fine from Malta’s FIAU
07 April 2025 Malta
Image: marcin jucha/stock.adobe.com
OKX, a cryptocurrency exchange, has been issued a fine for €1.1 million by Malta's regulatory authority, the Financial Intelligence Analysis Unit (FIAU), for administrative breaches.
Following a compliance review by the FIAU in April 2023, the authority identified gaps within OKX's compliance and AML frameworks. Despite remediations being made by the company to its processes, systems, and procedures in the intervening time, the fine remained above €1million.
Commenting on the matter, OKX says: "We welcome the FIAU’s statements with regards to the improvements made, and will continue working with the FIAU and other regulatory authorities in strengthening the AML/CFT internal control framework in line with the highest standards of compliance."
Following a compliance review by the FIAU in April 2023, the authority identified gaps within OKX's compliance and AML frameworks. Despite remediations being made by the company to its processes, systems, and procedures in the intervening time, the fine remained above €1million.
Commenting on the matter, OKX says: "We welcome the FIAU’s statements with regards to the improvements made, and will continue working with the FIAU and other regulatory authorities in strengthening the AML/CFT internal control framework in line with the highest standards of compliance."
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
