Op risk data: IBK snagged in money-laundering ops to Iran
Also: foul play called on Hapoalim’s football bribery scheme. Data by ORX News
Jump to In focus: Covid lessons | Spotlight: Skandia fine
In April’s largest loss, Industrial Bank of Korea (IBK) paid a total of $86 million for failures in its anti-money laundering programmes, which allowed the illegal transfer of over $1bn to Iran through its New York branch.
Investigations by the New York Attorney General’s Office (NYAG) and the New York State Department of Financial Services
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