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Release Date: 10th January 2023

To access the original FCA document, click here.


Guaranty Trust Bank (UK) Limited (GT Bank) has been fined £7,671,800 by the Financial Conduct Authority (FCA) for failing to maintain adequate anti-money laundering (AML) systems and controls from October 2014 to July 2019. The fine was reduced by 30% from an initial £10,959,700 due to GT Bank’s agreement to settle the matter early.

Reasons for the FCA Fine:

Key Takeaways for Other Firms:


The FCA’s significant fine against GT Bank highlights the critical importance of maintaining robust AML systems and controls. Financial institutions must ensure that they have effective measures in place to prevent and detect money laundering and terrorist financing, and they must respond promptly and thoroughly to regulatory feedback to avoid severe penalties and reputational damage.

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