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LONDON (Reuters) - 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, editing by Louise Heavens