Money Laundering Bulletin
Coutts fined in Hong Kong for PEP control lapses
By Keith Nuthall
The
Hong Kong Monetary Authority (HKMA) – the special administrative region’s
central bank – has fined commercial bank Coutts & Co’s Hong Kong branch
HK$7million (US$900,700) for breaching anti-money laundering (AML) and terror
finance laws. [1]