Hungary: Equilor was fined $ 30 million

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September 9, 2019

The MNB imposed a total fine of HUF 29.5 million on Equilor’s investment service provider, including failures to regulate internally, problems discovered in the IT sector and a weak system of protection against money laundering and terrorist financing. The measures do not affect the customers’ securities and cash. 

The Hungarian National Bank (MNB) has conducted a limited comprehensive survey of Equilor Investment Ltd. (Equilor). The Authority reviewed the period from 1 July 2016 to the end of the investigation.