UK banks at fault over Abacha money laundering-FSA

The UK Financial Servicies Authority has concluded an investigation into UKbanks' financial dealings with the deposed Nigerian leader, General SaniAbacha. The report is strongly critical of control failures at 15 UK bankswhich laundered 98% of the US$1.3 billion which flowed through the City ofLondon between 1996 and 2000.

The FSA investigation identified 42 personal and corporate accountrelationships linked to Abacha family members and close associates in theUK. These accounts were held at 23

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