by AdrianaAMLP | Nov 18, 2022
FCA publicly censures the former CEO of Sonali Bank (UK) Limited (SBUK) for AML failings. The latter failed to take reasonable steps to assess and mitigate the AML risks arising from a culture of non-compliance among SBUK’s staff. He failed to ensure that there was a...
by AdrianaAMLP | Oct 14, 2022
The bank failed to conduct sufficient checks on its customers based in countries with a higher risk of ML/TF. It also failed to undertake the correct checks when some of the customers were classed as PEPS. The bank has taken significant steps to improve its financial...
by AdrianaAMLP | Aug 26, 2022
The PRA & and FCA joint investigations into certain former senior managers at HBOS plc have now concluded with a decision by each of the Authorities’ independent decision-makers to take no further action. The Authorities gathered more than 2 million documents,...
by AdrianaAMLP | Jun 27, 2022
FCA said many crypto firms that have applied to register under MLR miss financial crime “red flags” and have inadequate controls. Crypto is “high-risk and unregulated, which means (people) are unlikely to have protection if things go wrong, so if they choose to invest...
by AdrianaAMLP | Jun 23, 2022
The FCA has fined Ghana International Bank (GIB) £5,829,900 for poor AML and CFT controls over its correspondent banking activities. The FCA requires banks to do extra checks on their customers to reduce the higher risk of ML/TF…
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