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Barclays Fined $56 Million for Money-Laundering Failures

Barclays Fined $56 Million for Money-Laundering Failures

Barclays BARC 0.22%increase; green up pointing triangle has been fined roughly $56 million for lapses in dealings with risky customers, including a client tied to one of Britain's biggest money-laundering cases.
U.K. regulators fined the bank more than 39 million pounds, equivalent to $52 million, for failing to detect and manage money-laundering risks in its yearslong relationship with Stunt & Co., a gold firm run by socialite James Stunt. It received a separate £3 million fine Wednesday for its dealings with a failed wealth-management firm, WealthTek.
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