Cyprus – CBOC Fines RCB Bank re AML

On December 1, CBOC fined RCB Bank Ltd €800k under AML prevention law.

  • Bank failed to comply with provisions under Prevention and Suppression AML laws.
  • Decision of November 29, 2017, imposes sanctions in form of fine, amounting to €800k.
  • If the fine is paid within a specified time limit, it will be reduced by 15% or €120k.