Issue link: https://maltatoday.uberflip.com/i/646116
maltatoday, SUNDAY, 28 FEBRUARY 2016 News 11 MATTHEW VELLA HSBC Bank Malta was fined €40,000 by the Maltese financial intelligence analysis unit, for fail- ing to conduct proper due dili- gence on a "politically exposed person". HSBC has been asking all politi- cally exposed persons (PEPs) – a designation for individuals who hold positions that can be abused for the purpose of laundering illicit funds, or corruption or bribery – having accounts with the bank to disclose their sources of funds, af- ter the bank tightened anti-money laundering rules ever since its Swiss operations came under the glare of regulators and multiple governments. The FIAU, the government agen- cy tasked with the fight against money laundering and terror fi- nancing, said in a 7 January state- ment that was not publicised that HSBC had failed to adequately scrutinise – on an ongoing ba- sis – transactions undertaken "throughout a business relation- ship in order to ensure that all transactions were consistent with its knowledge of the customer and the business and risk profile." The FIAU said that HSBC Malta had also failed to take sufficient measures to establish the source of funds of the transactions that were carried out throughout a business relationship established with a po- litically exposed person; and that it had not carried out "enhanced ongoing monitoring" of a business relationship entered into with the PEP. The rules that were breached fall under the Prevention of Money Laundering and Funding of Ter- rorism regulations. An HSBC Malta spokesperson was tight-lipped about the exact circumstances triggering the fine. "HSBC Bank Malta takes note of the administrative penalty issued by the FIAU and regrets the bank's shortcomings in this specific case," the bank told MaltaToday. This newspaper was told by former members of the Maltese government that they had been informed by HSBC that their bank accounts will be closed within less than two months of their notifi- cation, in line with international PEPs guidelines to limit their ex- posure to particular clients. The bank said it did not com- ment on individual customers and was committed to upholding its le- gal obligations in all its operations when asked whether HSBC Malta was informing Maltese PEPs to close their bank accounts. FIAU director Manfred Galdes said the agency could not com- ment on whether an obligation to make a company announcement by HSBC could have arisen in this case. PEPs rules often affect politi- cians, their family members and relatives, and bureaucrats with links to political parties whom the bank perceives as having a certain kind of influence. Over the past years, HSBC has enhanced its 'know your customer' (KYC) and anti-money launder- ing procedures to ensure a more complete consideration of clients' sources of wealth. COURT NOTICE The Registrar, Civil Courts and Tribunals notifies that the First Hall of the Civil Court ordered the sale by Judicial Auction of the following property to be held in the corridors of the Courts of Justice, Republic Street, Valletta. Date and Time Judicial Sale No Property 3rd March 2016 42/13 – 10.30am Borg Mark 503274M vs Briffa Alan et 333774M EGL The tenements numbered fifty six (56), fifty seven (57) and fifty eight (58) in Triq San Gwann, Bormla, free and unencumbered, with its rights and appurtenances, valued at eighty three thousand euro (€83,000). A garage numbered seven (7) in Triq it-Tobra, �al- Lija, with access in Triq il-Larin�, H'Attard valued at fifteen thousand and five hundred euro (€15,500). 15 th March 2016 35/14 – 10.30am Mary Carmen Borg et 162862M vs Leone Muscat et 406045M EGL The farm known as 'Tal-Busuf' that today bears the name 'Razzett �niena Divina', with no number, in Triq it-Torri ta' L-Ghallies, l-G�allies limits of Naxxar together with the land annexed of approximately of two thousand four hundred and ninety three point seventy five square metres (2,493.75mk), free and unencumbered with all its rights and appurtenances valued at five hundred and fifty thousand Euro (€550,000). The house number fifty one (51), in Triq il-Kbira, �as-Sajjied, Birkirkara in a corner with Alley number one (1), Triq �as-Sajjied, free and unencumbered with all its right and appurtenances valued at ninety thousand Euro (€90,000) The house named 'Cadeau' and the garage in Triq Dun Amabile Sisner, Pembroke subject to annual and perpetual ground rent of two hundred and sixteen Euro and sixty nine cents (€216.69) valued at three hundred and forty five thousand six hundred and sixty six Euro (€345,666.00). 15 th March 2016 29/15 – 11.30am BOV plc. C2833 vs Joseph Borg et 184748M JGL The apartment internally marked number five (5) on the third floor which forms part of a block of apartments, maisonette and underlying garages, which block named 'Bestland Flats' in Triq i�- �erna, Bu�ibba limits St.Paul's Bay. The said apartment has in common with the other flats in the said block, all parts intended for the common use, including the front door, entrance, stairs and staircase, a part of the roof also subject to all servitudes resulting from the position of the same flat viz a vi the other apartments in the same block of apartments above mentioned, including the servitude of windows and balconies and the right of a passage necessary for services, drains and the drains pipes, wires from the entire block and with the right of active servitudes on present flats and on additional flats to be built and is subject to annual and perpetual ground rent of twenty five euro and sixty cents (€25.62) valued at ninety eight thousand five hundred and fifty euro (€ 98,550). 17 th March 2016 16/12 – 10.30am Anne Marie Ciantar et 42541A vs Elaine Attard Ogilvie (347771M) u Gordon Ogilvie EM Maisonette numbered one hundred and twenty-five (125) on the first floor with its own airspace, in Triq Annibale Preca, Lija and Garage numbered fifteen (15), which forms part of a complex of garages, accessible from an unnamed street, which leads to Triq Annibale Preca, Lija. The property has servitude. The property is valued at seventy thousand Euros (€70,000) 17 th March 2016 57/15 – 11.00am Banif Bank Malta plc. C41030 vs Christine Gauci 205088M PP Apartment without its airspace shell form internally numbered one (1) ground level in a block without number and name and built on plot number forty four (44) in Triq il-�bit mill-Arju, Kalkara with all its rights and appurtenances, bounded on West by property of George Falzon, East with property unofficially numbered forty-five (45) and North with property unofficially number nine (9) exempted from any payment rates of future perpetual ground rent. The property enjoys access servitudes and uninterrupted perpetual use and access from the common part and services of the block from which the property forms part. Furthermore on the high roof the buyers or successors in title shall enjoy the right of installation and maintenance of water tank of a capacity not exceeding five hundred liters (500L), the right of installation and maintenance of solar water heater not greater than three hundred liters (300L) and the right of installing a satellite dish that does not exceed one point one meters diameters (1.1m) and/or aerial and both must be common with the rest of the block valued at one hundred and nineteen thousand euro (€119,000). Further details can be obtained from the website: http://www.justiceservices.gov.mt/courtservices/JudicialSales/search.aspx The bidders taking part in the auction must present their identity card. Rudolph Marmara' For the Registrar of Civil Courts and Tribunals PEPs breach costs HSBC €40,000