The FCA is hitting Al Rayan Bank PLC (Al Rayan) with a £4,023,600 ($4,9m) fine for failing to demonstrate adequate anti-money-laundering (AML) controls within their services.
Between April 1, 2015 and November 30, 2017, Al Rayan failed to make appropriate checks on the money that was passing through the bank. It
Furthermore, the staff lacked
Register for free to keep reading.
To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.
- Unlimited access to industry insights
- Stay on top of key rules and regulatory changes with our Rules Navigator
- Ad-free experience with no distractions
- Regular podcasts from trusted external experts
- Fresh compliance and regulatory content every day