Abu Dhabi Fines Hayvn Group $12.45 Million for AML Failures
- Hayvn Group fined $12.45 million for inadequate anti-money laundering controls.
- Former CEO Christopher Flinos routed transactions through unlicensed AC Holding since October 2018.
- Penalties include $3.6 million against Hayvn Cayman and $3 million against Hayvn ADGM.
- Flinos personally fined $750,000 and banned from directorships in Abu Dhabi’s financial sector.
- Over 200 falsified documents uncovered; no client funds reported missing.
The Abu Dhabi regulators imposed significant fines on Hayvn Group and its former CEO for serious violations of anti-money laundering regulations, including routing transactions through an unlicensed vehicle and providing false information to authorities.
Source (2.6)https://decrypt.co/314844/crypto-firm-hayvn-12-million-abu-dhabi-aml?rand=52368
