Zagrebacka Banka Fined $5 Million in Money-Laundering Probe

UniCredit SpA’s Croatian unit was fined 33 million kuna ($5 million) for failing to comply with money-laundering and terrorism financing laws for almost two years, the Adriatic country’s central bank said.

Zagrebacka Banka d.d., Croatia’s biggest lender, accepted the ruling that it violated laws 11 times between January 2017 and November 2019 and won’t dispute the fine levied by the state Financial Inspectorat, the central bank said on Tuesday.

The bank failed to “identify and follow suspicious, complex and unusual transactions,” didn’t report 1,122 suspicious transactions to the authorities and didn’t establish an efficient internal control system to prevent money ...