Lloyds Bank Corporate Markets fined UK£498,000 in Jersey over correspondent banking risk breach

The Jersey branch of Lloyds Bank Corporate Markets (LBCM) must pay a civil penalty of UK£498,000 for not identifying and properly managing the risk of a correspondent banking relationship between 2008 and 2018.

The Jersey branch of Lloyds Bank Corporate Markets (LBCM) must pay a civil penalty of UK£498,000 (US$586,000) for not identifying and properly managing the risk of a correspondent banking relationship between 2008 and 2018.