On 17 June, various media reported that the FCA has fined Commerzbank AG (London Branch) £37,805,400 for failing to put adequate AML systems and controls in place between October 2012 and September 2017. It is said that Commerzbank London was aware of these weaknesses and failed to take reasonable and effective steps to fix them, despite the FCA raising specific concerns about them in 2012, 2015 and 2017.







If you would like to say thanks by making a small contribution, in case I need to upgrade or replace my computers and other paraphernalia, I have a page at https://www.buymeacoffee.com/KoIvM842y

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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