FCA Fines Gatehouse Bank for "Significant Weakness" in AML Compliance Checks
The number of fines being handed out to financial institutions that are failing to implement effective AML Compliance checks continues to rise. Gatehouse Bank has become the latest recipient of a penalty, as the Financial Conduct Authority (FCA) issued a £1.5 million fine to the bank in October this year. This is despite the fact that Gatehouse had anti-money laundering policies in place - the presence of these policies did not ensure their implementation, as the standard for AML Compliance...
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