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Local company fined £295,221 by FSA

A Douglas company has been fined just under £300,000 by the Financial Services Authority.

Trident Trust Company IOM self-reported its failings in 2018 after finding issues with its compliance with one of the Island's Anti-Money Laundering codes.

The company, based on Victoria Street in Douglas, will have to pay a penalty of £295,221 after instances of 'historic non-compliance.' 

The Authority says keeping in order with the code is 'mandatory not optional.' 

 

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