FCA fines Sonali Bank for anti-money laundering failings

FCA fines Sonali Bank for anti-money laundering failings
 

Britain's Financial Conduct Authority (FCA) fined a bank owned by the Bangladesh government 3.25 million pounds for failures in anti-money laundering controls, the FCA said on Wednesday.
Sonali Bank (UK), 51 percent owned by the Bangladesh government, had "serious and systemic weaknesses" at almost all levels of its anti-money laundering control structure, the FCA said.
Regulators worldwide have in recent years been stepping up efforts to enforce better money-laundering controls on banks, following a series of high-profile failings at major lenders.
(Reporting by Lawrence White,... read more

 
12 October 2016 in Business, Views: 44
Source: Reuters
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