Abu Dhabi regulators imposed a total of 12.45 million USD in fines to Hayvn Group for failing AML controls. Former CEO Christopher Flinos was responsible for using unauthorized entities to process client transactions and providing misleading information.
As a result of the violations, Hayvn’s operating license has been revoked, and Flinos is permanently banned from holding directorships in Abu Dhabi. The regulator emphasized strict enforcement of compliance in the financial sector.
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