Barclays fined £42m over poor handling of financial crime risk

FCA fines bank for failures relating to money laundering risk linked to two businessesBusiness live – latest updatesThe UK financial watchdog has fined Barclays Bank £42m over its “poor handling” of financial crime risks linked to Stunt & Co, the firm run by the socialite James Stunt, and the wealth management company WealthTek.The Financial Conduct Authority said the fines related to separate failings linked to the two businesses. It fined Barclays Bank £39.3m for “failing to adequately manage money laundering risks” related to providing banking services to Stunt & Co. Continue reading...

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Barclays fined £42m for failing financial crime victims – where the cash will go

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