Fx News: US FINRA fines EFG Capital International $650,000 and censured it for major AML lapses, including unmonitored high-risk transfers, coding errors, and missed account reviews

Between 2018 and 2021, the firm processed about $5.5 billion in wire transfers, including transactions involving high-risk jurisdictions, but failed to implement adequate policies to detect and report suspicious activity. Deficiencies included around 900 transfers totaling $305 million going unmonitored due to data delays, a coding error from 2020 to 2022 that blocked alerts for high-risk transactions…