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Weekly Roundup: FSA Fines Turkish Bank $450,000 for AML Violations, Afghan Finance Minister Accused of Laundering, and More
printThe Financial Services Authority (FSA) fined London-based Turkish Bank (UK) Ltd. approximately $450,000 Thursday for failing to develop and implement risk-based anti-money laundering (AML) policies and procedures and for poor customer due diligence and recordkeeping procedures. Compliance officials did not properly monitor high-risk accounts based in Turkey, the regulator said. More The U.S. Justice Department's probe into alleged money laundering violations at Western Union Co. has widened to focus on another unnamed agent, the money services business (MSB) disclosed Thursday, in a report to the Securities and Exchange Commission. In March, the MSB received a subpoena from the Central District...
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