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UK watchdog fines Ghana International Bank for poor controls

© Reuters. FILE PHOTO: Signage for the Financial Conduct Authority (FCA), the Britain’s financial regulatory body, is seen at their head offices in London, Britain March 10, 2022. REUTERS/Toby Melville

LONDON (Reuters) – Britain’s Financial Conduct Authority (FCA) has fined Ghana International Bank 5.8 million pounds ($7.08 million) for failings in its anti-money laundering controls.

“No evidence of actual money laundering was detected, though the risk of money laundering as a result of these deficient systems was significant,” the FCA said in a statement, adding that the bank has not disputed the findings and agreed to settle early.

($1 = 0.8192 pounds)

UK watchdog fines Ghana International Bank for poor controls

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