RBS’s Ulster Bank Unit Fined EU3.33m for Irish Regulatory Breach
Source: BFW (Bloomberg First Word)
Tickers
RBS LN (Royal Bank of Scotland Group PLC)
1084Z ID (Central Bank of Ireland)
1026Z ID (Ulster Bank Finance PLC)
2539Z GR (European Central Bank)
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UUID: 7947283
(Bloomberg) -- Ulster Bank Ireland DAC fined for anti-money laundering and terrorist financing failures.
Alert: HALISTER1- Breaches occurred over a six year period; breaches identified significant failings in Ulster Bank Ireland’s anti-money laundering/countering financing of terrorism framework and procedures
- Breaches linked to outsourcing, risk assessment, due diligence
- Ulster breaches “especially concerning as they point to unacceptable weaknesses in key aspects of its anti-money laundering framework, systems and controls over an extended period of time,” Central Bank says in e-mail statement
- Breaches admitted by Ulster Bank Ireland, central bank says
Source: BFW (Bloomberg First Word)
Tickers
RBS LN (Royal Bank of Scotland Group PLC)
1084Z ID (Central Bank of Ireland)
1026Z ID (Ulster Bank Finance PLC)
2539Z GR (European Central Bank)
To de-activate this alert, click here
UUID: 7947283