FCA fines Ghana International Bank £5.8m over AML controls 

clock • 2 min read
FCA fines Ghana International Bank £5.8m over AML controls 

The UK's Financial Conduct Authority has fined Ghana International Bank Plc (GIB) £5,829,900 for poor anti-money laundering and counter-terrorist financing controls over its correspondent banking activities. In a statement issued on 23 June, it said GIB provided correspondent banking services to overseas banks. This allowed them to provide products and services they would not otherwise be able to, including making payments in different currencies and across borders. The FCA requires ban...

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