An Appeals Court has reduced a fine imposed by the Financial Intelligence Analysis Unit (FIAU) from €10,500 to €2,000.

The court, presided by Mr Justice Lawrence Mintoff, ruled that the fine imposed by the FIAU was excessive, Newsbook reports.

The fine had been imposed on an elderly accountant, who appealed the ruling before the courts of law.

Newsbook reported that, in other judgments, fines were reduced from €58,238 to €7,000; €30,000 to €4,000; €26,607 to €3,500; and €11,000 to €1,214.

The changes to the fines imposed were announced on the FIAU site.

The original fines were imposed in the weeks before Malta had been greylisted.