Legal
NY fines UAE's largest bank over lax money-laundering safeguards
Financial Services Superintendent Maria T. Vullo has announced that the Department of Financial Services has fined United Arab Emirates-based Mashreqbank PSC and its New York branch $40 million for violations of U.S. Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) laws in the New York branch’s U.S. dollar clearing operations. …
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