
Danske Bank’s Irish branch fined €1.82 million for AML/CFT breaches
Danske Bank has been fined €1.82 million (US$1.79 million) and reprimanded by the Central Bank of Ireland (CBI) for three transaction monitoring failures in its anti-money laundering and counter financing of terrorism (AML/CFT) systems.
The three breaches of Ireland’s criminal justice act (CJA) all stem from the first breach, the failure of the Danish bank to ensure that its automated systems monitored the transactions of certain categories of customers of its Irish branch between 2010 and 2019. All three breaches have been admitted by Danske.
You need to be logged in to view this article.
If you are an existing subscriber please enter your credentials to log in.
To become a member of The Association of Trade Finance Compliance Professionals (ATFCP) click here!
Related Posts
Trade Based Financial Crime
Trade Based Financial Crime
This online training course provides you with the technical knowledge required to succeed within the trade finance compliance landscape.