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Accountant hit with penalty over money-laundering code breaches

An Island accountant has been hit with a penalty of more than £2,300 over failures to follow money-laundering measures.

The Financial Services Authority says it's imposed a civil penalty on Edwin Fryer after an inspection last year.

The FSA says it found systemic and longstanding breaches of its anti-money laundering code over a number of years.

It imposed a £2,640 penalty, reduced to £2,376 after he cooperated with the investigation.

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