Published: January 16, 2025
MONROVIA — The Financial Intelligence Agency (FIA) of Liberia has issued a warning letter to Medtech Scientific Ltd for failing to submit requested information within the required timeframe.
The FIA has given Medtech Scientific Ltd a 72-hour ultimatum to justify why the company should not face sanctions for its non-compliance with the agency’s request.
It can be recalled that on December 18, 2024, the FIA—following Medtech’s failure to meet the initial deadline of December 13, 2024—again requested the company to provide critical information and documentation concerning its operations in Liberia from January 1, 2024, to December 31, 2024.
Despite this second request, Medtech Scientific Ltd failed to comply with the extended deadline of January 7, 2025, as outlined in the FIA’s December 18, 2024, communication. This act has been deemed by the FIA as defiance and willful disregard for the agency’s statutory authority, as established under the FIA Act of 2021.
The FIA has further classified Medtech’s actions as a violation of Section 67.3 of the FIA Act of 2021, which mandates that the agency has the authority to request and receive information necessary to perform its functions without delay.
Discussion about this post