UK firms face AML fines


The report notes: "So long as the twin threats of international terrorism and cross-border criminality remain high in the nation’s and the government’s consciousness, money laundering will not disappear as a priority regulatory issue for the FSA [Financial Services Authority] and the institutions it watches over."

Anacomp notes that the average FSA fine for institutions falling short on the anti-money laundering issue is currently £1 million. The report also says that only 43.5% of UK financial

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