October 12, 2016 BY Valentina Kirilova
FCA imposes penalties on Sonali Bank (UK) Ltd and its former money laundering reporting officer
The Financial Conduct Authority (FCA) has fined Sonali Bank (UK) Limited (SBUK) £3,250,600 and has imposed a restriction, preventing it from accepting deposits from new customers for 168 days. It has also fined the bank’s former money laundering reporting officer (MLRO), Steven Smith, £17,900 and prohibited him from performing the MLRO or compliance oversight functions…
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