Britain's Financial Conduct Authority (FCA) has fined Metro Bank 16 million pounds ($20.51 million), for failings in its anti-money laundering controls between June 2016 and December 2020.

The Financial Conduct Authority (FCA) has fined Metro Bank £16.7 million for failures in its anti-money laundering systems. Between June 2016 and December 2020, Metro Bank failed to have adequate monitoring systems in place for over 60m transactions, with a value of over £51bn.

The Financial Conduct Authority issued a penalty to Metro Bank after its systems failed to spot potentially suspicious customer accounts

The city regulator has fined Metro Bank £16.7m for financial crime failings over a four-year period between 2016 and 2020.

Metro Bank has been fined over £16.7m by the City watchdog for failing to have adequate controls against money laundering.

The UK's Financial Conduct Authority (FCA) has reportedly fined Metro Bank PLC £16,675,200 for failing to comply with certain guidelines.

Metro Bank has been fined £16,675,200 by the Financial Conduct Authority (FCA) due to significant weaknesses in its systems for monitoring financial transactions. This inadequate oversight posed a risk to the prevention of money laundering and other financial crimes.

The Financial Conduct Authority said on Tuesday that it has fined Metro Bank £16.7m for failing to have the right controls in place to combat money laundering.

Metro Bank fined £16.6m for failings over money laundering checks - The lender, which has about three million UK customers, failed to check for money laundering on millions of transactions up to 2020.