January 23, 2014 BY Gerald Segal

FCA cracking down on money laundering, fines Standard Bank £7.6 million

The bank ignored connections to politically exposed persons connected to companies operating from known money laundering jurisdictions The Financial Conduct Authority has issued a press release announcing that it has fined Standard bank PLC £7.6 million for failing to enforce proper anti-money laundering rules and procedures to ensure that corporate customers are not connected to…

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