More than €1.1 million in fines declared null after court finds FIAU breached companies' rights

The Financial Intelligence Analysis Unit (FIAU) was called out twice in two separate cases, where Judge Toni Abela found that the department’s investigations broke two companies' fundamental rights.

The cases involved Truevo Payments Ltd, who were fined €443,670 by the FIAU, as well as Vivaro Ltd who were fined €733,160 on the basis of money laundering. 

Following the company’s appeal, the court found that the department’s investigation process was carried out improperly. 

The companies complained that when the FIAU sent them a minding letter, which is supposed to notify a company that an investigation led the FIAU to consider imposing fines, the department did not inform them about the value of said fines. 

The companies argued that they did not know the nature of the case against them, and could not defend themselves properly.

The court further declared the FIAU’s investigations null and ordered the department to pay for the court procedures.

This is not the first time the court, or Judge Toni Abela erased heft fines issued in a flawed manner.

Last February, Abela thrashed the FIAU for fines he described as “quasi-criminal,” noting that such fines should be issued by a court or juridical body that gives such companies the basic right of being tried by an independent and autonomous tribunal.

A Court of Appeal had already declared in 2023 that the FIAU could not assume on itself the power to issue onerous fines against the firms it regulates.