Anti-Financial Crime & Financial Crime Compliance
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Banking, Regulatory, UK

NEWS: Barclays faces FCA probe over lax money laundering controls

A branch of Barclays Bank is seen, in London, Britain, February 23, 2022. The bank faces a new FCA probe. REUTERS/Peter Nicholls/File Photo

By PAUL O’DONOGHUE, Senior Correspondent

BARCLAYS has revealed that the UK’s Financial Conduct Authority (FCA) is investigating its anti-money laundering controls, just months after the regulator fined the bank £40 million.

The FTSE 100 lender disclosed the civil enforcement probe in its annual report, released alongside its fourth-quarter earnings.

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