Basic Search  |  Summaries  |  Advanced SearchPenalty: £544,505
Year: 2013
Date: 19 March, 2013
Offence Group: financial offences
Offence Type: anti-money-laundering deficiencies
Violation Description: MCO Capital was fined £544,505 for breaches of the Money Laundering Regulation 2007 after an OFT finding that a failure to follow proper procedures allowed fraudsters to use stolen personal details to apply successfully for loans, and the company engaged in unfair business practices when attempting to collect from people who had never taken out the loans.
Action Type: agency action
Agency: Office of Fair Trading
Source of Data: (click here)