WebJun 17, 2024 · The FCA said Commerzbank had failed to carry out periodic due diligence on its clients and tackle ongoing weaknesses in its automated tool for monitoring money laundering risks. (Odd Andersen/AFP via Getty Images) The UK’s Financial Conduct Authority (FCA) has fined the London branch of Commerzbank £37,805,40 for not … WebJun 19, 2024 · The FCA announced this week the second largest fine imposed for AML system deficiencies, fining Commerzbank AG (London Branch) £37.8m for failing to put in place adequate AML systems and controls between October 2012 and September 2024.
City watchdog fines Commerzbank £38m for money-laundering …
WebJun 17, 2024 · Britain's Financial Conduct Authority has fined Commerzbank London £37,805,400 — about $47.45 million — for inadequate anti-money laundering (AML) controls. WebDec 15, 2024 · In 2024 the FCA fined Deutsche Bank £163 million for serious anti-money laundering control failings. In June 2024 the FCA fined Commerzbank London £37,805,400 for failing to put adequate anti-money laundering systems in place and in October of this year the regulator fined Credit Suisse £147,190,276 for serious financial crime due … signs and wonders camp ihop
FCA Fines Commerzbank £37.8M For Money Laundering Fails
WebLaw360, London (June 17, 2024, 11:27 AM BST) -- Britain's banking watchdog hit the London arm of Commerzbank AG with a £37.8 million ($47.4 million) fine on … WebJun 17, 2024 · FCA fines Commerzbank London $47.4M for AML failures Article Compliance Week. Commerzbank London will pay a £37.8 million (U.S. $47.4 million) … WebLondon. EC2P 2XY. Date: 17 June 2024. 1. ACTION. 1.1. For the reasons given in this Final Notice, the Authority hereby imposes on Commerzbank AG, London Branch … the rain came down by david shannon