PB Week: Aon given largest financial crime fine
Today Aon was fined 5.25m pounds by the Financial Services Authority after the regulator gave the broker its largest financial crime related fine writes Andrew Tjaardstra, editor of Professional Broking , the management magazine for insurance brokers.
The fine dates back to dealings between 14 January 2005 and 30 September 2007 "for failing to take reasonable care to establish and maintain effective systems and controls to counter the risks of bribery and corruption associated with making payments to overseas firms and individuals". The FSA added that Aon "made various suspicious payments, amounting to approximately $7m to a number of overseas and individuals."
A FSA spokeswoman told Professional Broking: "This is the first fine for these
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