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Comsure operates in:the UK, Jersey, Guernsey


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400,000.00 reasons to get it right in Guernsey.

Money laundering fines increase agreed by Guernsey States – Guernsey was rated as partially compliant in the area of sanctions by MoneyVal The maximum penalty for money laundering and terrorism financing in Guernsey has risen to £4m. The fines can be levied for failing to carry out necessary checks or reviews or failing to make […]

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Gsy AML fine – GFSC start 2016 with a £81,375.00 BANG!!!!!

On 18 January 2016 the Commission decided to make as public statement under Section 11C of the Financial Services Commission Law and to impose under Section 11D of the Financial Services Commission Law financial penalties of£81,375.00 against the following £42,000 on Provident Trustees (Guernsey) Limited (“the Licensee”) and its directors as follows £18,375* on Mr […]

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GFSC fines 5 directors a total of £210,000.00 for AML failures….!!!

On 24 August 2015 the Guernsey Financial Services Commission (“the Commission”) decided to fine and sanction 5 directors a total of £210,000.00: Mr Falla = £50,000.00 Mr Garrod, = £50,000.00 Mr Hilton = £50,000.00 Mr Le Page; = £50,000.00 Mr Forman; = £10,000.00 SIGNIFICANT FAILINGS Were identified as a result of the April 2015 visit […]

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Sweden Regulator Fines banks for failing AML laws.

Sweden’s financial watchdog said on Tuesday it had fined banking groups Nordea and Handelsbanken for not adhering to laws on money laundering. Nordea, the Nordic region’s biggest banking group, was fined the maximum amount of 50 million crowns ($6.1 million) and Handelsbanken 35 million. The FSA said there had been major deficiencies in Nordea’s work […]

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Terrorism, fines and money laundering: why banks say no to poor customers

The tightening of international banking standards is making it difficult for low-income people in the global south to get access to banking service When people in developing countries don’t have access to a bank account, physical proximity to a bank is usually the first challenge that springs to mind, but sometimes the reason a person […]

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RBI fines Axis, HDFC & ICICI banks – But says no prima facie evidence of money laundering

The Reserve Bank of India (RBI) today penalised the country’s top three private lenders – ICICI Bank, HDFC Bank and Axis Bank – for violating its instructions on know-your-customer (KYC) and anti-money laundering (AML) guidelines. • Axis Bank has been fined Rs 5 crore, • HDFC Bank Rs 4.5 crore and • ICICI Bank Rs 1 crore. RBI […]

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