Multitude SE Comments on the FIAU penalty decision to its subsidiary,
Multitude SE (ISIN: FI4000106299, WKN: A1W9NS) (“Multitude” or “the Group”) has considered the Financial Intelligence Analysis Unit’s (FIAU) penalty decision of 08 August following a compliance examination on one of Multitude’s subsidiary,
The examination was carried out on Ferratum Bank p.l.c. (“the Bank) between
The Group and the Bank take the AML/CFT framework very seriously. The Bank has offered its services from
While continuously supporting the missions of the FIAU, the Group strongly disagrees with the FIAU’s decision and considers it as disproportionate. The Group therefore supports the Bank’s decision to appeal.
The Group also wishes to express, that the FIAU’s decision was highly unexpected. The Bank has always collaborated with the FIAU and MFSA in an open and transparent manner. The Group wishes to highlight, amongst several considerations, that it had been more than three years since the on-site visit and audit process was carried out, respectively, the news of this penalty was unanticipated.
The Group would, in addition, like to highlight that the incident is isolated to the
Multitude has been operating for 17+ years and was founded in
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