FIN STREET SEC Fined 1.412 Million Yuan for AML Compliance Failures
Deep News
Mar 06
On March 6, according to an administrative penalty decision issued by the People's Bank of China Inner Mongolia Autonomous Region Branch, FIN STREET SEC Co., Ltd. was fined 1.412 million yuan and given a warning for violations related to anti-money laundering (AML) compliance. The penalties were imposed due to the company's failure to establish and improve internal AML control systems as required, inadequate customer due diligence procedures, and failure to report suspicious transactions in accordance with regulations.
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