Archive for March, 2012

Coutts fined for failings in money laundering controls

March 27, 2012  |   General News & Cases,Professional Bodies   |     |   0 Comment

Private bank Coutts has been fined £8.75m by the Financial Services Authority (FSA) for not taking adequate measures to prevent money laundering. The FSA said the failings "resulted in an unacceptable risk of Coutts handling the proceeds of crime". The findings related to high-risk people, especially those whose political positions meant ...