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Skip Navigation LinksHome :: Back Issues :: Foreign exchange: Nigerian sting for Alpari

June 2010

Foreign exchange: Nigerian sting for Alpari

by Alexandra Fletcher


increase in Alpari’s live accounts in just one year 

The Financial Services Authority has slapped Alpari with a £140,000 fine and its former money laundering reporting officer (MLRO), Sudipto Chattopadhyay with a fine of £14,000.

According to the FSA report, Alpari failed to have in place adequate anti-money-laundering systems and controls and failed to monitor customer accounts, particularly customers based in Nigeria.

The...


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