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Metro Bank fined after taking years to fix errors in financial-crime controls, UK watchdog says

By Martin Coyle ( November 12, 2024, 09:07 GMT | Insight) -- Metro Bank was fined 16.6 million pounds by the UK’s Financial Conduct Authority today for failing to properly monitor tens of billions of pounds of transactions for money-laundering risks. A data processing error meant transactions were not properly recorded and not monitored. Staff at the British challenger bank first identified the problems in 2017, but they weren't resolved until years later.Metro Bank has been fined by the UK’s Financial Conduct Authority today for failing to properly monitor tens of billions of pounds of transactions for money-laundering risks....

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