Tuesday February 25, 2020

BoI fined €3.1 million for breaking anti-money laundering rules

Central Bank says bank failed to report six suspicious transactions to authorities in good time

29th May, 2017

Bank of Ireland has been fined €3,150,000 by the Central Bank of Ireland for failing to comply with anti-money laundering and terrorist financing rules.

The Governor and Company of the Bank of Ireland were reprimanded for 12 breaches of the Criminal Justice Act 2010 (CJA 2010).

The offences took place following the enactment of the legislation in July 2010 and persisted on average for over three years. BoI has admitted the breaches.

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