Finance Magnates on 4th December reported that Sonali Bank’s UK CEO, Mohammad Ataur Rahman Prodhan, now the CEO of Rupali Bank, fined £76,400 in UK. The government-owned Sonali Bank UK, has branches in Manchester, Birmingham and Tower Hamlets.  The FCA said he had failed to take reasonable steps to assess and mitigate the AML risks arising from a culture of non-compliance among the bank’s staff, and that it considers that he failed to ensure that sufficient focus was given to AML systems and controls within the bank or that there was a clear allocation of responsibilities to oversee branches, and that he failed to appropriately oversee, manage and adequately resource the MLRO function.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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