IRISH CENTRAL BANK FINES AIB EURO 2.2 MILLION FOR THREE YEARS’ OF AML LAW BREACHES
April 1st, 2017
THE CENTRAL Bank of Ireland has fined Allied Irish Banks (AIB) EUR2.275 million for breaches of Ireland’s 2010 Criminal Justice (Money Laundering & Terrorist Financing) Act. The offences have been admitted by AIB. This follows a central bank inquiry that concluded commercial and retail bank AIB broke this anti-money laundering (AML) law for three years after it came into force, (in July 2010) on average – with breaches continuing until July 2014. The AIB is one of Ireland’s largest banks, with 206 branches, 20 business centres, 71 offices of its ...
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