Britain's Financial Conduct Authority (FCA) has fined Metro Bank 16 million pounds ($20.51 million), for failings in its anti-money laundering controls between June 2016 and December 2020.

The Financial Conduct Authority issued a penalty to Metro Bank after its systems failed to spot potentially suspicious customer accounts

Metro Bank fined £16.6m for failings over money laundering checks - The lender, which has about three million UK customers, failed to check for money laundering on millions of transactions up to 2020.