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Barclays fined £42m by the FCA for financial crime risk failures

Investment Banking Editor

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The UK financial regulator has fined Barclays £42m for failures in its handling of financial crime risks related to two customers. 

Most of the fine — £39.3m — relates to Barclays’ handling of its relationship with Stunt & Co, with the Financial Conduct Authority saying the UK lender failed to “gather enough information at the start of the relationship or carry out proper ongoing monitoring”.

The UK lender was handed the fine for its dealings with two clients

Paul Clarke

Finance

Financial Regulation

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