The Cyprus Securities and Exchange Commission (CySEC) announced on Monday that it reached a €40,000 settlement with Bridge Global Solution Services Limited over possible breaches related to anti-money laundering legislation and procedures.

The regulator stated that the settlement concerned possible violations of the Prevention and Suppression of Money Laundering and Terrorist Financing Law as well as the relevant directive issued by the commission.

The regulator explained that, under article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009, it has the authority to reach settlements for any violation, possible violation, act or omission where there are reasonable grounds to believe that supervised legislation may have been breached.

CySEC said that preliminary findings raised reasonable suspicions regarding possible acts and omissions linked to breaches of anti-money laundering and counter-terrorist financing requirements.

More specifically, the regulator stated that the case involved an assessment of the company’s compliance between 2021 and 2025 with articles 58(a) and 58(c) of the law, as well as paragraphs 5(d) and 9(1)(d) of the directive.

These provisions concern the application of policies, controls and procedures relating to money laundering risks.

The commission confirmed that the company has already paid the €40,000 settlement amount.

The commission also clarified that all settlement payments are treated as revenue of the Treasury of the Republic and do not constitute income for CySEC itself.