Metro Bank has been fined nearly £17m by the UK’s financial watchdog for failings in its money-laundering controls over four years, in a fresh blow to the lender a year on from its near-collapse.
In a surprise announcement that also triggered the early release of Metro’s third-quarter results on Tuesday morning, the Financial Conduct Authority (FCA) said it had found shortfalls in the bank’s financial crime checks between 2016 and 2020.
