Watchdog Fines UniCredit Bank Hungary for Regulatory Shortfalls
Photo by Adriana Iacob/Shutterstock.com
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.
Watchdog Fines OTP Bank for Regulatory Shortfalls
Gov't Launches HUF 150 bln Job Placement Scheme for Over-30s
Biggeorge Adds 2 New Directors to Top Management
7th Edition of BSC Charity Beach Volleyball Tournaments Comi...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
