Crypto Change OKX was fined 1.1 million euros ($1.2 million) by Malta’s Monetary Intelligence Analytics Unit (FIAU) for violating the nation’s anti-money laundering (AML) rules.
OKX fined $1.2 million from Malta for cash laundering violations
An announcement from the FIAU stated a penalty was imposed following an on-site compliance overview in April 2023, revealing severe and systematic failures.
Within the FIAU survey, OKX:
- The chance of cash laundering associated to the product couldn’t be correctly assessed.
- For about half of the reviewed recordsdata, the consumer skipped the chance evaluation throughout acceptance.
- Transaction monitoring and exterior reporting had been flawed.
OKX responded to the fines, stating that it’s implementing a complete compliance program, together with expertise upgrades and elevated monitoring. The change additionally famous that it acknowledged FIAU’s reduction efforts.
This newest effective provides to OKX’s rising regulatory challenges world wide.
- February 2025: OKX’s dad or mum firm will settle with US authorities for greater than $500 million, because it didn’t register as a remittance enterprise.
- In March 2025, the European Union is investigating OKX’s Web3 providers following stories that hackers had washed $1.5 billion in BYBit Heist income. The change will later droop some associated providers.
- March 2025: Thai securities regulators file prison expenses in opposition to OKX by working with no license.
- January 2025: OKX was fined 304,000 euros by the Malta Monetary Providers Authority (MFSA) for its non-public rules violation.
*This isn’t funding recommendation.
