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The Guernsey Financial Services Commission announced the imposition of a financial penalty of £140,000 against the St. Peter Port, Guernsey-based financial institution for failure to comply with suspicious transaction reporting, risk management and other anti-money laundering requirements.
The Guernsey Financial Services Commission imposed financial penalties on the Guernsey-based firm and five current and former directors for failing to comply with applicable anti money laundering and counterterrorist financing regulations.