FCA fines Al Rayan Bank PLC £4m for anti-money laundering failures 

AMLFineFCA
Written By Richard Wegrzyn

Al Rayan Bank Plc has been fined £4,023,600 for AML failings. The FCA found that the Bank had failed to remediate a number of KYC-related issues, some of which were identified back in 2015. It was found that the issues were “further exacerbated” by the lack of attention given to financial crime areas from the Bank’s third line of defence.

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Richard Wegrzyn https://www.avyse.co.uk
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