The Financial Services Authority (FSA) has fined Habib Bank AG Zurich £525,000 and its former money laundering reporting officer, Syed Itrat Hussain, £17,500 over failures in anti-money laundering systems and controls. Habib is a privately-owned Swiss bank with twelve branches in the UK and approximately 15,500 customers. At the time of the FSA’s investigations, around [...]
