Saturday June 6, 2020

AIB fined €2.2m for breaking anti-money laundering and terrorist financing rules

Central Bank probe found AIB failed to report suspicious transactions without delay to the authorities

25th April, 2017
AIB hit with fine Pic: RollingNews.ie

AIB has been fined more than €2.2 million for breaching anti-money laundering and terrorist financing rules.

The Central Bank of Ireland reached a €2,275,000 settlement with the state-owned bank and reprimanded it for six breaches of the Criminal Justice Act 2010 (CJA).

A probe by the Central Bank in 2013 identified six breaches of the Criminal Justice Act 2010 as a result of significant failures in AIB’s anti‐money laundering and counter terrorist financing controls, policies and...

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