Bangladesh's Sonali bank fined £3.3m

Bangladesh's Sonali bank fined £3.3m
 

The UK operations of Bangladesh's biggest bank, Sonali Bank, have been banned from accepting deposits from any new customers for 24 weeks.
The Financial Conduct Authority (FCA) said the bank had failed to put anti-money laundering controls in place.
The bank has been fined £3.3m and its top anti-money laundering official, Steven Smith, has been banned from any similar job in banking.
But its main business, remitting cash to people in Bangladesh, is unaffected.
Sonali Bank currently has three UK branches - in London, Birmingham and Bradford - which are aimed at serving the expatriate... read more

 
12 October 2016 in Business, Views: 50
Source: BBC
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