PSD: Fine for not handling AML
Dec 16th, 2007 by Jesper Kråkhede
On a swedish economy news site an article regarding fines for a bank not complying with AML (Anti Money Laundring) was published. It is quite interesting to know that the fines are rather substantional. According to the article the fines will be around 100 000€. With fines of that magnitude banks have to start working with AML rather fast. Without big fines the legislation would be rather useless. The article in swedish could be found here.