MaiCoin, BitoEX exchange, each fined 1.5 million yuan for violating anti-money laundering laws by the Financial Supervisory Commission

According to the latest announcement of the FSC, MaiCoin (Modern Wealth Technology) and BitoPro (CoinTrust Technology) were both fined NT$1.5 million for violating the Money Laundering Prevention Act. The main reasons for the punishment of the two exchanges this time include failure to strengthen customer scrutiny, failure to accurately understand the source of customer wealth, failure to keep customer transaction information, failure to fully grasp the status of money laundering and terrorist financing transactions, etc., which were punished yesterday (25). Since 112 years since the FSC launched the gold inspection of EncryptionExchange, the cumulative penalties of the current operators are: Ace number 1.52 million yuan Modern Fortune 1.5 million yuan Depository 1.5 million yuan Rhenium 1.02 million yuan Among them, the depository has been punished, hereby declare: Regarding the administrative sanction of the financial inspection announced by the FSC today (11/26), our company is grateful for the guidance of the competent authority, we are well aware of the great responsibility to lead the sound development of the industry, therefore, for the missing projects, We have immediately formed a project team and adopted specific improvement plans, formulated a more rigorous internal audit and internal control process, strengthened internal education and training, and enhanced the compliance awareness of all employees. We will also share our compliance experience with other players to create a safer and more transparent investment environment." We firmly believe that Compliance is the cornerstone of the development of the virtual currency industry, in addition to actively improving the internal compliance operation, we will continue to cooperate with the competent authorities and partners from all walks of life in the future, continue to invest resources in risk control, information security, technological innovation and other aspects, and bring correction and compliance development to the virtual currency industry. Related reports WOO X announced that it will terminate Taiwan's exchange services, pay attention to the three-stage withdrawal schedule "MaiCoin and Token Deposits were each fined 1.5 million yuan by the FSC for violating the Money Laundering Prevention Law" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Block Chain News Media".