Times of Malta: Stanleybet Malta Limited, a betting company, has been fined €225,000 for serious AML failings, including weak monitoring and fragmented controls that left it exposed to ML/TF risks

The regulator found that the company had systemic weaknesses in monitoring customer transactions across its betting shops, relying on unreliable manual identification methods and lacking a complete customer database. It also noted that customers could easily bypass deposit thresholds by spreading activity across multiple locations, preventing proper detection of suspicious activity. The FIAU concluded that these failures created significant money laundering and terrorism financing risks, prompting both financial penalties….