A Birkirkara gaming company has been fined €130,460 after a number of anti-money laundering shortcomings were uncovered. Olimp Limited was slapped with the fine earlier in September following a 2020 inspection by the Financial Intelligence Analysis Unit. According to public filings, the company, which has since surrendered its gaming license, is owned by Russian national Galina Reed, together with a holding company which is, in turn, owned by Reed and another holding company based in Cyprus, Anarbek Holding Ltd. Reed also serves as one Olimp Ltd's directors, together with Sliema-based Pierre Mangion. In its public announcement, the FIAU said it found the gaming company to have serious shortcomings that could not only impact its operations but also the rest of the gaming industry. The FIAU said it also took into consideration the relatively small size of the company when deciding on the severity of the fine. The main issue highlighted by the FIAU was that the company's business risk assessment was only a draft. Although it was meant to have a full risk assessment in place more than two years ago, the draft presented had not actually identified any of the threats and...