Northern Bank gets record FSA money-laundering fine


BELFAST -- The UK's Financial Services Authority (FSA) has issued Belfast-based Northern Bank with a record £1.25 million fine for lapses in its anti-money laundering (AML) regime. The bank, which is owned by National Australia Bank, admitted that its "record keeping was inadequate".

The FSA, in its 'Final Notice', said that although Northern Bank had conducted its own internal study of its AML compliance regime in January 2002 and found it wanting, it "failed to recognise the seriousness of its

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