Standard Bank PLC, the UK arm of South Africa's Standard Bank, has had a £7.6m fine levied upon it by the Financial Conduct Authority (FCA), for weaknesses in its anti-money laundering systems and controls, as they pertain to Politically Exposed Persons, or PEPs. A summary of the agency's findings can be found on the FCA website, http://www.fca.org.uk/ , under "Latest News."
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