Metro Bank fined almost £17mln over anti-money laundering controls
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Metro Bank Holdings PLC has been fined nearly £17 million by the Financial Conduct Authority for failing to implement adequate anti-money laundering controls between 2016 and 2020, affecting transactions worth £51 billion.
November 12, 2024 | 8:30 am
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Metro Bank Holdings PLC has been fined £17 million by the FCA for inadequate anti-money laundering controls from 2016 to 2020, affecting £51 billion in transactions.
The fine of £17 million and the failure to monitor £51 billion in transactions could negatively impact investor confidence and the bank's reputation, likely leading to a short-term decrease in stock price.
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