A £5.6 million fine for the Royal Bank of Scotland should remind companies of the importance of anti-terror checks in their business processes, AEB (International) has warned.
The bank was fined by the Financial Services Authority for failing to check its customers’ names against sanctions lists drawn up by HM Treasury.
AEB produces a software module, ASSIST4 Compliance, designed to help companies adhere to regulations aimed at preventing terrorism and money laundering.
