A fraudster serving time for his role in an elaborate investment scam has received nearly four additional years in prison for failing to pay a confiscation order made against him. Michael Nascimento was sentenced to 1,417 days’ imprisonment at a hearing at the City of London Magistrates’ Court.
The Financial Conduct Authority (FCA) has fined Al Rayan Bank £4,023,600 for failing to put in place adequate anti-money laundering (AML) controls. Al Rayan allowed money to pass through the bank and be used within the UK without carrying out appropriate checks between 1 April 2015 and 30 November 2017. The FCA says
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