Times of Malta: Malta’s FIAU fines BNF Bank €69,000 after a faulty core banking system upgrade led to prolonged reporting failures and missed regulatory deadlines for over 5 months

During this period, BNF was unable to meet its requirement to file reports every seven days, with more than 100 days of missed or delayed submissions. Although the bank was actively attempting to resolve the issues and later restored compliance, the FIAU ruled that the failures were significant enough to warrant an administrative penalty…