The Financial Conduct Authority (FCA) - UK has fined Canara Bank’s London Branch GBP 896,100 and has imposed a restriction, preventing it from accepting deposits from new customers for 147 days.
The FCA acknowledges that senior management at Canara Bank have fully co-operated and engaged with the FCA's investigation and that the firm's substantive AML deficiencies now have been rectified.
Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.
