UK Fines Barclays £42 Million Over Financial Crime Risk Lapses
The bulk of the fine is tied to Barclays' failure to adequately manage money laundering risks tied to Stunt & Co., according to a statement on Wednesday. Over the course of a year, the FCA found that Stunt & Co received £46.8 million from Fowler Oldfield, a company that was at the heart of one of the UK's largest ever money-laundering trials.
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