WebJun 18, 2024 · Germany’s Commerzbank London has agreed to pay a fine of £37,805,400 — about $47.45 million — “for failing to put adequate anti-money laundering (AML) systems and controls in place between October 2012 and September 2024,” Britain’s main bank regulator said in a news release on Wednesday (June 17). “Commerzbank London’s … 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 …
FCA Fines Commerzbank for Failing to Comply with AML …
WebJun 24, 2024 · It therefore qualified for a 30% discount - without this discount its fine would have been over £54 million. Other recent FCA enforcement. Commerzbank London is one of several banks subject to recent high-level fines by the FCA for AML failings. Others include: Standard Chartered Bank was fined £102.2 million in 2024 for poor AML controls; WebFCA Penalty to Commerzbank Commerzbank is fined £ 38 million for money laundering failures, including its "out of control" system to control customers. The German business … commuter stream
FCA Fines for AML Breaches - Know Your Compliance Limited
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. WebSep 16, 2024 · The FCA demonstrated their willingness to enforce these AML/CTF principles in the recent fine for Commerzbank AG. The fine totalled £37,805,400 and constituted a 30% discount for cooperation for failing to put adequate anti-money laundering systems and controls in place. WebJun 17, 2024 · The UK’s Financial Conduct Authority (FCA) has fined the London branch of Frankfurt-based Commerzbank 37.8 million British pounds (US$47.3 million) for it’s failure to implement adequate anti … commuter stretch strap