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

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

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

Britain's Financial Conduct Authority (FCA) has fined Metro Bank 16 million pounds ($20.51 million) for failings in its anti-money laundering controls, in the latest blow to the struggling mid-sized lender.

High Street lender failed to adequately check more than 60 million customer transactions, valued at more than £51 billion.

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 bank failed to have the right systems and controls to adequately monitor more than 60 million transactions,

The FCA says poor controls on transactions worth tens of billions of pounds in total existed despite concerns raised by junior staff.

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.