MONROVIA, LIBERIA-The Financial Intelligence Agency (FIA) has fined Lone Star Cell-MTN Mobile Money, Inc., twenty-five million Liberian dollars.
The fine, according to a release issued, was imposed for the company’s failure to comply with Liberia’s Anti-Money Laundering and Countering Financing of Terrorism compliance policies, procedures, controls, and obligations.
The FIA release indicated that the agency has mandated Mobile Giant to deposit said fine in the Liberian Government’s escrow account.
Meanwhile, the FIA shall take additional appropriate supervisory actions where necessary to ensure that the LCMMMI complies with the full range of the AML/CFT Obligations.
By: Stanley Johnson
