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) laws.
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 assessment in April 2023, revealing critical and systematic failures.
Within the FIAU survey, OKX:
- The chance of cash laundering associated to the product couldn’t be correctly assessed.
- For roughly half of the reviewed recordsdata, the shopper skipped the danger 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 know-how upgrades and elevated monitoring. The trade additionally famous that it acknowledged FIAU's aid efforts.
This newest positive provides to OKX's rising regulatory challenges around the globe.
- February 2025: OKX's father or mother 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 companies following studies that hackers had washed $1.5 billion in BYBit Heist income. The trade will later droop some associated companies.
- March 2025: Thai securities regulators file felony fees towards OKX by working with out a license.
- January 2025: OKX was fined 304,000 euros by the Malta Monetary Providers Authority (MFSA) for its personal laws violation.
*This isn’t funding recommendation.
