Watchdog Fines UniCredit Bank Hungary for Regulatory Shortfalls
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The National Bank of Hungary (MNB) has fined UniCredit Bank Hungary HUF 28 million for failing to comply fully with rules on preventing money laundering and the financing of terrorism, the central bank and financial market regulator said on Friday, according to a report by state news wire MTI.
MNB found in a probe that the bank had delayed or failed to report suspicious transactions.
The central bank added that UniCredit Bank Hungary's safeguards were not up to par.
MNB gave UniCredit a deadline to take remedial measures.
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