On 14 August, the Jersey Evening Post reported that Lloyds Bank Corporate Markets Jersey has been fined almost half-a-million pounds for breaching the Island’s financial services regulatory requirements. Jersey FSC said that LBCM failed to adequately identify the correspondent banking relationship and to apply appropriate controls in relation to AML/CFT systems. The relationship was with an overseas incorporated bank and operated between 2006 and October 2021.
https://jerseyeveningpost.com/news/2022/08/14/bank-fined-500k-for-regulatory-breach/
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