Fraud
CP assists Phoenix Payments in Landmark Constitutional Judgement
In a landmark judgement handed down by the First Hall, Civil Court, presided by the Hon. Justice Audrey Demicoli, earlier today the court found that the law granting the Financial Intelligence Analysis Unit (“FIAU”) the right to investigate and impose hefty administrative fines on subject persons as a result of certain regulatory breaches violate the the applicant’s right to a fair hearing under Article 39(1) of the Constitution. As a result the Court declared certain provisions of the Prevention of Money Laundering Act (“Act”) (Chapter 373 of the Laws of Malta) and the Prevention of Money Laundering and Funding of Terrorism Regulations (“PMLFTR”) (Subsidiary Legislation 373.01) dealing with the imposition of administrative penalties null and void and also declared the investigative process as well as the imposition of the fine itself null and void.
03 May 2023