
Barclays fined GBP 42 million for financial control failings
Natasha Doris
,
The bank has drawn the FCA’s ire for anti-financial crime compliance shortcomings.
Barclays has been hit with a GBP 42 million fine by the UK Financial Conduct Authority (FCA) after the agency discovered serious failings in the banking giant’s anti-financial crime framework. The FCA reported its decision on Wednesday (16 July) after a three-month investigation.
The bank neglected to check the money laundering risk for wealth management firm WealthTek before onboarding the institution a
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