BMO Fined £700K by Isle of Man Regulator for Compliance Lapses
The Isle of Man Gambling Supervision Commission (GSC) has levied a £700,000 fine on BMO Manx Limited for significant compliance failures related to anti-money laundering (AML) and counter-terrorism financing (CFT) regulations. The penalty, initially set at £1 million, was reduced by 30% after BMO cooperated with the regulator early in the investigation. The GSC conducted […]
The Isle of Man Gambling Supervision Commission (GSC) has levied a £700,000 fine on BMO Manx Limited for significant compliance failures related to anti-money laundering (AML) and counter-terrorism financing (CFT) regulations. The penalty, initially set at £1 million, was reduced by 30% after BMO cooperated with the regulator early in the investigation. The GSC conducted […]
