19 Jun 2020
The National Bank of Hungary (MNB), serving as the country’s financial regulator, said on Wednesday that it has fined six banks a combined 124.2 million forints (EUR 360 thousand) for shortcomings related to the prevention of money laundering and terrorist financing.
MagNet Bank, UniCredit Bank, Erste Bank, Sberbank, OTP Bank and K+H Bank were instructed to remedy their shortcomings.
The MNB carried out a target probe at the six banks to monitor the effectiveness of anti-money laundering controls related to activities involving significant cash flows for a period from 2018.
Read more at Hungary Today
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