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Metro Bank fined over £16m for AML failings stemming from data problems

Metro Bank logo
The failings by Metro Bank took place between 2016 and 2020. Photo: Matt Cardy/Getty Images

Hameed Shuja

3 min read
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FCA final notice highlights how data problems can have serious consequences unless dealt with promptly.

UK regulators have fined one of the country’s high street banks, Metro Bank, more than £16m ($20m) for failing to properly monitor for potential money laundering. The bank started operating in the UK in 2010 and has more than 70 branches throughout the country, with around 2.7 million customers.

The FCA said that

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