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      Metro Bank fined nearly £17m for failure to monitor potential money laundering

      news.movim.eu / TheGuardian • 12 November 2024

    FCA finds lender failed to check more than 60m transactions valued at £51bn

    Metro Bank has been fined nearly £17m by the UK’s financial watchdog for failings in its money laundering controls over four years.

    The Financial Conduct Authority (FCA) issued the £16.7m penalty after finding failures in monitoring 60m transactions over a four-year period that risked a “gap being left in the defence against the criminal use of the financial system”.

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