By Neil Hodge2023-01-12T15:34:00
The U.K. Financial Conduct Authority (FCA) fined Guaranty Trust Bank approximately 7.67 million pounds (U.S. $9.4 million) for weaknesses in its anti-money laundering (AML) systems and controls that spanned a five-year period.
In its final decision notice issued Tuesday, the FCA said between October 2014 and July 2019 that GT Bank—a wholly owned subsidiary of Guaranty Trust Bank Nigeria Limited—failed to carry out adequate customer risk assessments, often neglecting to assess or document the money laundering risks posed by its customers.
The bank also failed to monitor customer transactions and business relationships properly.
2023-10-03T21:01:00Z By Kyle Brasseur
ADM Investor Services International was ordered to pay nearly £6.5 million (U.S. $7.9 million) by the U.K. Financial Conduct Authority for not timely addressing anti-money laundering systems and controls deficiencies first alleged by the regulator in 2014.
2023-09-12T15:00:00Z By Neil Hodge
The former CEO of NatWest’s decision to leak client details to the press regarding Nigel Farage is likely to cost the financial industry millions in new compliance checks as U.K. regulators prepare reviews into how banks treat people with extreme political views.
2023-03-29T18:13:00Z By Jeff Dale
The U.K. Gambling Commission announced three units of British bookmaking service William Hill Group will pay a record fine of £19.2 million (U.S. $23.7 million) for failures regarding social responsibility and anti-money laundering.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
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