Fraud & Ethics
Regulation, Risk & Compliance
Uncategorized
UAE bank fined $600k over money laundering risk
The Jersey branch of a Middle Eastern bank has been fined £475,000 ($613,000) for failing to intervene appropriately when two customers made a series of ‘suspicious’ withdrawals totalling $1.2m. The Royal Court case marks the first time a company has been convicted and sentenced for failing to comply with Jersey’s…
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