Irish Broker Fined €280K For Money Laundering Breaches
Law360, London (May 10, 2019, 6:15 PM BST) -- Dublin stockbroker Campbell O’Connor has been hit with a €280,000 ($315,000) fine for multiple anti-money laundering and terrorism financing compliance failures, the Irish Central Bank announced Friday.
The regulator said that Campbell O'Connor & Company was guilty of five breaches of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. The firm has admitted the violations, which took place over a six-year period between July 2010 and November 2016, the central bank said.
This is the first time the Irish Central Bank has taken action against a stockbroker for violations of the Money Laundering and Terrorist Financing Act.
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