Basic Search  |  Summaries  |  Advanced SearchPenalty: £16,675,200
Year: 2024
Date: 12 November, 2024
Offence Group: financial offences
Offence Type: anti-money-laundering deficiencies
Violation Description: The FCA fined Metro Bank PLC £16,675,200 after a finding that the company failed to have the right systems and controls to adequately monitor over 60m transactions, with a value of over £51bn, for money laundering risks. Metro Bank would have been fined £23,821,700, but it agreed to resolve these matters and so qualified for a 30% discount under the FCA's processes.
Settlement Type: Settlement with FCA
Agency: Financial Conduct Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking
Source of Data: (click here)