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Violation Tracker UK Individual Case

Company: Al Rayan Bank PLC
Penalty: £4,023,600
Year: 2023
Date: 11 January, 2023
Offence Group: financial offences
Offence Type: anti-money-laundering deficiencies
Violation Description: Al Ryan Bank agreed to pay a £4,023,600 fine in settlement of findings by the FCA that the bank failed to adequately check its customers' Source of Wealth and Source of Funds when it was required to make sure the money was not connected to financial crime.
Settlement Type: settlement of FCA Decision
Agency: Financial Conduct Authority
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