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U.K. Regulator to Announce Large AML Penalty Next Week: Source
By Brian Monroe
printThe United Kingdom's chief financial regulator is set to announce next week a multi-million pound monetary penalty against a bank for weak anti-money laundering controls, according to an individual familiar with the matter. The announcement of the fine-expected to be on par with, or slightly higher than, recent penalties by U.K. Financial Services Authority-is scheduled to roughly coincide with the publication of an agency report that will outline the anti-money laundering (AML) compliance risks banks take on with certain business lines, said the person, who asked to not be named. FSA spokeswoman Sarah Bailey would not confirm or deny any...
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