Commerzbank London Fined £37.8 Million for AML Program Failures
Last month, the United Kingdom regulator known as the Financial Conduct Authority (“FCA”) fined Commerzbank London £37.8 million for failures in the bank's anti-money laundering (AML) procedures. The Final Notice provided by the FCA outlines the problems with the bank's AML program. Preventing financial crime in banks is of very…