Ballard Spahr LLP (JD Supra India)
1 result for Ballard Spahr LLP (JD Supra India)
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Canara Bank of India Fined $1.2 Million by UK Regulators for Systemic AML Failures
Late last week, the Financial Conduct Authority (“FCA”), the United Kingdom’s financial services regulator, imposed a $1.2 million (896,100 pound) fine on the UK division of India’s Canara Bank, an Indian state-owned bank, and ordered a moratorium on new deposits for nearly five months.
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