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NEWS: UK watchdog fines Nigeria’s Guaranty Trust bank Stg£7.6M for serious AML failings

news:-uk-watchdog-fines-nigeria’s-guaranty-trust-bank-stg7.6m-for-serious-aml-failings


Britain’s financial watchdog has fined the UK subsidiary of Nigeria’s Guaranty Trust Bank Stg£7.6M ($9.3M) for what it said were further serious failures in its anti-money laundering systems and controls.

“These weaknesses were repeatedly highlighted to GT Bank by internal and external sources, including the FCA, but despite this, GT Bank failed to take appropriate action to fix them,” the Financial Conduct Authority said in a statement on Tuesday.

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The post NEWS: UK watchdog fines Nigeria’s Guaranty Trust bank Stg£7.6M for serious AML failings appeared first on AML Intelligence.

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