RBS Group fined £5.6m for sanctions control failings
The Royal Bank of Scotland Group (RBSG), which includes RBS, Natwest, Ulster Bank and Coutts, has been fined £5.6 million by the UK Financial Services Authority (FSA) after the regulator argued it had failed to implement transaction monitoring.
The fine is the largest ever levied by the FSA in the area of financial crime and the first imposed by the regulator under the Money Laundering Regulations 2007, which require firms maintain policies and procedures to monitor transactions for money
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Operational risk
Risk Management
US banks harbour concerns over agencies’ cyber risk rule
Lack of reporting template means “people can give the least amount of data possible”, warns CISO
Receive this by email