The Financial Conduct Authority (FCA) has fined Canara Bank £896,100 and has imposed a restriction, preventing it from accepting deposits from new customers for 147 days. Financial services firms are required to maintain robust anti-money laundering (AML) systems and controls, since they are at risk from those seeking to launder the proceeds of crime […]

Financial Conduct Authority handed out penalties worth £22.2m in 2016, lower than 2008 – compared with £1.5bn peak in 2014 Fines imposed on banks and other City firms by the financial regulator have slumped to the lowest annual figure since the start of the financial crisis and less than 3% of last year’s total. With […]