Central Bank hits Ulster Bank with €3.3m fine
Bank's breaches of money laundering prevention rules 'especially concerning'
The Central Bank has fined Ulster Bank €3.325m over breaches of rules aimed at combatting money laundering and the financing of terrorist groups.
The regulator described the breaches as “especially concerning”, as they happened at one of Ireland’s largest retail banks with more than 1.1 million customers.
This is the second multi-million euro fine imposed on the bank in the last two years. Two years ago, the Central Bank slapped a record €3.5m penalty on the bank forIT failures in 2012 which deprived customers of banking services.
