Barclays fined UK£39.3m over repeated failure to act on ML signals

UK high street lender Barclays Bank Plc has been ordered by the UK Financial Conduct Authority to pay UK£39,314,700 (US$52,690,075) over persistent lack of response to warnings of money laundering risk attaching to its business customer Stunt & Co Ltd, between 9 January 2015 and 23 April 2021.

UK high street lender Barclays Bank Plc has been ordered by the UK Financial Conduct Authority (FCA) to pay UK£39,314,700 (US$52,690,075) over persistent lack of response to warnings of money laundering risk attaching to its business customer Stunt & Co Ltd, between 9 January 2015 and 23 April 2021.