Crypto payment company Payeer has been slapped with a whopping €9.29 million fine by the Lithuanian Financial Crime Investigation Service (FNTT) for violating Anti-Money Laundering regulations. 😱 This is the largest fine ever imposed on a virtual asset service provider in Lithuania. The FNTT accused Payeer of failing to identify its customers and allowing transfers to sanctioned Russian banks. Despite attempts to get Payeer to cooperate, the company remained unresponsive. Payeer, however, has the right to appeal the decision. This comes amidst a global crackdown on crypto exchanges flouting AML regulations.