FinancialCrime

Metro Bank Hit with £16.7 Million Penalty for Lapses in Anti-Money Laundering Protocols

1 month ago

Metro Bank, a prominent player in the UK's banking sector, has come under fire following a hefty fine totaling £16.7 million, equivalent to approximately $20.5 million. This reprimand was issued by the Financial Conduct Authority (FCA), which cited significant failures in the bank's anti-money laundering (AML) systems and controls. The financial impact stems from deficiencies that the FCA determined could lead to severe repercussions if not rectified.

Major Breakthrough: Court Orders Recovery of Funds for Victims in Scammed Banker Case

2 months ago

In a significant development for victims of bank fraud, a federal court has taken decisive action to recover lost funds from a notorious scam perpetrated by a former banker. The ruling, which comes as a relief to the affected individuals, highlights the ongoing efforts of law enforcement and the judiciary to restore justice in financial crimes.

Monaco Bankers Found Guilty in Major Money Laundering Case Involving Italian Client

2 months ago

In a landmark ruling, a court in Monaco has convicted a group of bankers for their roles in facilitating money laundering activities linked to an Italian client. The case, which has drawn significant attention due to its high-profile nature and implications for the banking sector, concluded with the conviction of five individuals who worked for two prestigious banks in the region.