Watchdog fines Metro Bank £16m for failing customers
The Independent|November 13, 2024
A major bank has been fined millions for errors that left customers at risk. Metro Bank has been fined 16.6m by regulators for failings over money laundering controls from 2016 to 2020.
ALEX DANIEL
Watchdog fines Metro Bank £16m for failing customers

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 Conduct Authority (FCA). The watchdog said Metro Bank automated financial crime monitoring in 2016 but its system “did not work as intended”.

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