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 issued a penalty to Metro Bank after its systems failed to spot potentially suspicious customer accounts

Metro Bank has been fined over £16.7m by the City watchdog for failing to properly check whether transactions were a financial crime risk. The Financial Conduct Authority (FCA) said that Metro Bank had failed to adequately monitor over 60m transactions for money laundering risks 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.

Metro Bank has been fined £16.7 million in relation to failures that meant it was unable to adequately monitor for money laundering risks. The failings identified in today’s penalty by the Financial Conduct Authority (FCA) relate to the period between June 2016 and December 2020.

The issues, which continued for four years despite concerns being raised by junior staff, applied to more than 60 million transactions with a value of more than £51bn according to the Financial Conduc

The Financial Conduct Authority (FCA) has fined Metro Bank £16.7 million for failing to properly monitor billions of pounds worth of transactions for potential money laundering risks over a four-and-a

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.

Metro Bank has been fined almost £16.7m after a City watchdog probe found historic failures in the lender's money laundering checks.