Tag: financial intelligence analysis unit
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OkCoin Europe, now OKX fined €1 million by the FIAU over AML violations
The OKCoin Europe Exchange, now fully rebranded into OKX, has been fined €1,054,269 by the Financial Intelligence Analysis following a list of Anti-Money-Laundering violations. Among these AML violations by the OKCoin exchange include failure to do proper customer review assessments (CRAs) of up to 50% of its clients, failed to do proper due diligence on…
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The FIAU have to stop fooling around and begin sharing intelligence with the Police and the Prosecutor
Earlier this week, an FIAU official was forced to testify in court and this is an anomaly because FIAU officials, by law, should not divulge any information or intelligence in public that they have gathered. However, the FIAU are bringing this anomaly upon themselves with their refusal to share their intelligence with the police and…
