Basic Search  |  Summaries  |  Advanced SearchPenalty: £1,584,100
Year: 2022
Date: 14 October, 2022
Offence Group: financial offences
Offence Type: anti-money-laundering deficiencies
Violation Description: The Financial Conduct Authority fined Gatehouse Bank Plc £1,584,100 for significant weakness in its financial crime systems and controls. According to the FCA, between June 2014 and July 2017 Gatehouse failed to conduct sufficient checks on its customers based in countries with a higher risk of money laundering and terrorist financing. Gatehouse also failed to undertake the correct checks when some of the customers were classed as Politically Exposed Persons (PEPs).
Action Type: agency action
Agency: Financial Conduct Authority
Source of Data: (click here)