Coudounari & Elisseou Limited

Announcement Date:

24/01/2024

ICPAC’s Administrative Committee’s Decision Date: 04 October 2023

Regarding:

 Coudounari & Elisseou Limited (Reg.Nr 244432), (ICPAC’s Reg.Nr E203)

Legislation:

The Prevention and Suppression of Money Laundering Activities Law and ICPAC’s Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing.

Subject:

ICPAC’s administrative committee imposed to the company Coudounari & Elisseou (Reg.Nr. 244432) (ICPAC’s Reg.Nr. E203) the total fine of €72.500 (seventy two thousands five hundred euros) due to the insufficient policies, checks and procedures that the company applied to in relation to the evaluation and management of the risk derived from its clients 1,2,3 and 4 and its failure to comply with the Prevention and Suppression of Money Laundering Activities Law and ICPAC’s Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing.

Appeal Review:

 NO