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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 makes the lender the latest financial institution to face regulatory action over AML compliance failures. Banking regulators across Europe have been stepping up enforcement in this area, and the fine is being reported by compliance and financial sector outlets.
- 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.