An Island bank has been handed a £1 million penalty for failing to carry out customer risk assessments properly.
The Financial Services Authority says Royal Bank of Scotland International breached the regulations to prevent money laundering and financing terrorism.
An investigation found 2,239 non-personal customers between 2015 and 2018 had inadequately documented Customer Risk Assessments.
As a result, the FSA imposed a civil penalty of £1,440,481, but discounted it by 30 per cent because of the company's cooperation.
Council announces final dates for garden waste collection
Manx Utilities hopes sewer cleaning means end of odour problems
What's being done to tackle crash blackspots?
New TT schedule will be reviewed on yearly basis
No successful driving theory test appeals in past 10 years
Steam Packet announces tomorrow morning's sailings will go on time
Firefighter to raise money by wearing full gear in fitness competition
