Softlogic Finance PLC on Wednesday clarified a statement issued by the Central Bank (CB) on the company among three institutions where a penalty was imposed for non-compliance of certain rules.
“Softlogic Finance wishes to clarify that the fine imposed by the Financial Intelligence Unit (FIU) of the Central Bank was due to a shortcoming in the core operating system of the company in relation to screening the United Nations Sanctions List. This procedural shortcoming was met by Softlogic Finance in October 2020, and the system updated according to the directives stipulated by the Central Bank,” the company said responding to the CB statement issued on Tuesday.
Softlogic Finance PLC said it was committed to upholding effective anti-money laundering standards, and as a responsible corporate entity, has established an Anti-Money Laundering Policy to ensure the identification and mitigation of money laundering risks. The company further reiterates its continued commitment to fully comply with all regulatory directives by the Central Bank.
A Sri Lankan man was apprehended at Suvarnabhumi airport for attempting to smuggle wildlife out of the country after three ball pythons were found hidden in his underwear, the Bangkok post reported.
Read these and more on tomorrow’s edition of the Sunday Times
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