Metro Bank fined nearly £17m for failure to monitor potential money laundering
by Jack Simpson from World news | The Guardian on (#6S57Y)
Problems were raised by junior staff three years before they were completely resolved, says FCA
Metro Bank has been fined nearly 17m by the UK's financial watchdog for failings in its money-laundering controls over four years, in a fresh blow to the lender a year on from its near-collapse.
In a surprise announcement that also triggered the early release of Metro's third-quarter results on Tuesday morning, the Financial Conduct Authority (FCA) said it had found shortfalls in the bank's financial crime checks between 2016 and 2020.
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