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UK watchdog fines Ghana International Bank for poor controls

UK’S Financial Conduct Authority (FCA) has fined Ghana International Bank 5.8 million pounds ($7.08 million) for failings in its anti-money laundering controls.

‘No evidence of actual money laundering was detected, though the risk of money laundering as a result of these deficient systems was significant,’ the FCA said in a statement, adding that the bank has not disputed the findings and agreed to settle early.

 

Source
Huw Jones/Reuters

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