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Banque SBA Cyprus
Trends
- 1Cyprus central bank fines Banque SBA €750,000 over AML breaches▼NEWS: Cyprus central bank fines Banque SBA €750,000 over AML breaches
The Central Bank of Cyprus has fined Banque SBA €750,000 for breaches of anti-money laundering rules. The penalty is the latest in a series of regulatory actions by European authorities against lenders with weak compliance controls, and is being followed by banking and compliance professionals monitoring AML enforcement across the region.
- 2Central Bank of Cyprus fines Banque SBA €750,000▼Central Bank of Cyprus fines Banque SBA Cyprus €750,000 — Cyprus Mail
The Central Bank of Cyprus has imposed a €750,000 fine on Banque SBA Cyprus, according to the Cyprus Mail. The penalty makes the French-linked lender one of the more recent banks to face regulatory sanctions on the island. Details on the specific breach behind the fine have not been widely reported, and neither the bank nor the regulator has given a detailed public explanation so far.