On 9 February, the Cyprus Securities and Exchange Commission (CySEC) announced a partnership with the Cyprus Investment Company (CIF), Fintailor Investments Ltd..Reach a settlement agreement。The settlement deals with possible violations of the Prevention and Suppression of Money Laundering and Financing of Terrorism Act 2007 (the "Act") and the Prevention and Suppression of Money Laundering and Financing of Terrorism Directive issued by CySEC (the "Directive").。The investigation into the settlement involved assessing the company's compliance for the period 2016-2019.。

More specifically, the settlement involves an assessment of the company's compliance with:

• Section 58 (a) of the Act provides for the implementation of adequate and appropriate policies, controls and procedures in customer identification and customer due diligence
• Section 58 (e) of the Act provides for a detailed examination of each transaction that, by its nature, may be considered to be particularly susceptible to the commission of a money-laundering offence or the financing of terrorism, in particular complex or unusually large transactions, and all other unusual patterns of transactions that do not have an obvious economic or visible legitimate purpose
• Paragraph 5 (d) of the Directive on the responsibilities of the Board
• Provisions of paragraph 9 (1) (d) of the Directive relating to the duties of the Compliance Officer

The settlement with the company amounts to €200,000。The company has paid this amount。

It should be noted that all payables in the settlement agreement are considered income of the Republic Treasury and do not constitute income of CySEC.。

According to CySEC's website, the company is currently "under review for voluntary waiver of authorization."。