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Guaranty Trust Bank fined £7.6m for serious weaknesses in its AML systems

GT Bank is part of a Nigerian multinational financial services institution that provides banking services across Africa and the United Kingdom. Photo: gtbank.com

Martina Lindberg

1 min read
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The bank has been hit with another fine after repeated failings in adequate customer risk assessments and AML procedures.

Guaranty Trust Bank (UK) Limited (GT Bank) is once again in deep water over failures in its anti-money-laundering (AML) procedures. The Financial Conduct Authority (FCA) has issued a £7,671,800 ($9,297,356) fine after finding that the bank had “serious weaknesses” in its AML systems and controls.

During October 2014 and July 2019, GT

GT Bank

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