Reuters logo
FCA fines Sonali Bank for anti-money laundering failings
October 12, 2016 / 9:28 AM / a year ago

FCA fines Sonali Bank for anti-money laundering failings

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.

The logo of the new Financial Conduct Authority (FCA) is seen at the agency's headquarters in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below