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Published on Nov 12, 2024

FCA fines Metro Bank over £16m for AML transaction monitoring failings

Credit: Shutterstock/J. Lekavicius The financial regulator said the so-called challenger bank, which was advised in the enforcement action by a former FCA official, took four and a half years to fully fix a transaction monitoring issue raised by junior …

Source: Global Investigations Review - Label Pending
Published on Nov 12, 2024

Metro Bank fined for faulty AML system

The FCA has handed Metro Bank a hefty multi-million pound fine after it left millions of transactions unm... The FCA has handed Metro Bank a hefty multi-million pound fine after it left millions of transactions unmonitored for financial crime risks. The UK …

Source: ICLG - Neutral
Published on Nov 12, 2024

Metro Bank fined £17mn for anti-money laundering control failings

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Metro Bank has been fined almost £17mn by the UK financial watchdog for failing to fix “serious deficiencies” in an automated …

Source: The Financial Times - Neutral
Published on Nov 12, 2024

Metro Bank fined £16.6m by FCA over money laundering monitoring failures

The lapses, occurring between June 2016 and December 2020, reveal serious deficiencies in Metro’s financial crime prevention controls. Metro Bank introduced automated transaction monitoring in June 2016, but due to data input errors, the system failed to …

Source: Business Matters - Neutral
Published on Nov 12, 2024

Metro Bank fined £17mn for AML control failings; Mediobanca shares fall after drop in revenue

UK challenger Metro Bank has been fined £16.7mn by the Financial Conduct Authority for failing to address flaws in its automated anti-money laundering system installed in 2016. The FCA said that despite internal warnings by junior staff within two years …

Source: The Banker - Neutral
Published on Nov 12, 2024

Metro Bank fined nearly £17m for failure to monitor potential money laundering

Metro Bank has been fined nearly £17m by the UK’s financial watchdog for failings in its money laundering controls over four years. The Financial Conduct Authority (FCA) issued the £16.7m penalty after finding failures in monitoring 60m transactions over a …

Source: The Guardian - Center-left
Published on Nov 12, 2024

Metro Bank's £51bn Blind Spot Leads to 3rd Largest FCA Fine of 2024

The Financial Conduct Authority (FCA) has imposed a £16.7 million fine on Metro Bank for significant failings in its anti-money laundering controls that left over £51 billion in transactions inadequately monitored over a four-year period.Metro Bank Hit …

Source: Forex Magnates - Label Pending
Published on Nov 12, 2024

Metro Bank fined £16.6m by regulator over money laundering checks failures

Metro Bank said earlier this year that it would cut 1,000 jobs ( Image: PA Archive/PA Images) Metro Bank has been hit with a £16.6m fine by regulators over its failure to maintain adequate money laundering controls from 2016 to 2020. The Financial …

Source: Daily Mirror - Left-wing
Published on Nov 12, 2024

Metro Bank automated crime prevention system cost it £16m

Metro Bank has been fined £16m by the UK financial regulator due to inadequate criminal transaction monitoring. The Financial Conduct Authority (FCA) handed the bank the fine over its failure to adequately monitor more than 60 million transactions, worth …

Source: UK Tech News - Label Pending
Published on Nov 12, 2024

Metro Bank fined more than £16m for money-laundering failures

Metro Bank has been fined more than £16m after failing to carry out adequate anti-money laundering checks for nearly four years. The bank failed to have the right systems and controls to adequately monitor over 60 million transactions, with a value of over …

Source: iNews UK - Neutral
Published on Nov 12, 2024

FCA fines Metro Bank for AML failures

The Financial Conduct Authority (FCA) has imposed a £16.7 million fine on Metro Bank over failings in its anti-money laundering systems over a four-year period. According to the regulator, between June 2016 and December 2020, the high street challenger …

Source: Mortgage Professional Australia - Neutral
Published on Nov 12, 2024

Metro Bank fined £16.7m for failure to monitor possible money laundering

The City regulator has fined Metro Bank almost £17 million for “serious” flaws in its systems to tackle financial crime that meant it failed to scrutinise transactions worth more than £51 billion over four years. An investigation by the Financial Conduct …

Source: The Times - Center-right
Published on Nov 12, 2024

Metro Bank fined £16.7 million for financial crime failings

Metro Bank has been fined £16.7 million by the Financial Conduct Authority (FCA) after an automated system the brand setup to monitor transactions failed to spot potential cases of financial crime. Under FCA rules, banks are required to have anti-money …

Source: MoneyWeek - Neutral
Published on Nov 12, 2024

Metro Bank hit with £16.7m fine for inadequate monitoring of £51bn worth of transactions

Metro Bank has been hit with a hefty £16.7m fine by the Financial Conduct Authority (FCA) for its failure to adequately monitor transactions for potential financial crime risks. The City watchdog revealed that Metro Bank had inadequately monitored over 60 …

Source: Business Live - Neutral
Published on Nov 12, 2024

BUSINESS LIVE: Wage growth slows; Metro Bank fined £16.7m; AstraZeneca upgrades guidance

By LIVE COMMENTARY Updated: 03:58 EST, 12 November 2024 UK wage growth, excluding bonuses, fell in the third quarter to its lowest level in more than two years, fresh data from the Office for National Statistics shows. The ONS also said unemployment in …

Source: Daily Mail - Right-wing
Published on Nov 12, 2024

Britain’s FCA fines Metro Bank £16 million for anti-money laundering failings

BRITAIN’S Financial Conduct Authority (FCA) has fined Metro Bank £16 million (S$27.4 million), for failings in its anti-money laundering controls between June 2016 and December 2020. The bank failed to have the right systems and controls to adequately …

Source: The Business Times Singapore - Neutral
Published on Nov 12, 2024

Metro Bank fined £16.7m by FCA for financial crime control failures

Automated controls failed to adequately check £51bn worth of transactions Metro would have been hit with even bigger fine if it had not cooperated Lender's boss Frumkin says Metro returned to profitability in October By MIKE SHEEN Updated: 03:08 EST …

Source: Daily Mail - Right-wing
Published on Nov 12, 2024

Metro Bank fined £16m for failings over money laundering checks

Metro Bank has been fined £16.6 million by regulators for failings over money laundering controls from 2016 to 2020. The issues, which continued for four years despite concerns being raised by junior staff, applied to more than 60 million transactions with …

Source: Jersey Evening Post - Neutral
Published on Nov 12, 2024

Metro Bank fined £16m for poor money laundering controls

Struggling Metro Bank has been fined £16m for poor money laundering controls. The Financial Conduct Authority (FCA) said the challenger bank failed to have the right systems and controls to adequately monitor more than 60 million transactions, with a value …

Source: Sky News - Neutral

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Published on November 12, 2024 - 17:56 GMT

Oak Valley Community Bank Announces Commercial Banking Officer Hiring

OAKDALE, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), announced that David Skitarelic has joined the bank as Vice President, Commercial Banking Officer. He is based out …

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Published on November 13, 2024 - 04:10 GMT

APRA releases survey results assessing management of risks associated with climate change in the financial sector

The Australian Prudential Regulation Authority (APRA) has published the findings of its second climate risk self-assessment survey. The findings provide deeper insights into how regulated entities identify, manage and disclose the financial risks of …

Distribution channels: Banking, Finance & Investment Industry

Published on November 12, 2024 - 16:59 GMT

Joint Multilateral Development Banks Statement for COP29 – MDBs’ Support to Implementing the Paris Agreement

MDBs remain firmly committed to support ambitious climate action: assisting clients with flexible, targeted approaches that also drive sustainable economic growth and development, generate jobs, address catastrophic biodiversity loss and pollution, and …

Distribution channels: Banking, Finance & Investment Industry
Published on November 12, 2024 - 16:59 GMT

Multilateral Development Banks to Boost Climate Finance

BAKU, AZERBAIJAN (12 November 2024) — Multilateral development banks (MDBs) today issued a joint statement at COP29 in Baku outlining financial support and other measures for countries to achieve ambitious climate outcomes. MDBs estimate that by 2030, …

Distribution channels: Banking, Finance & Investment Industry

Published on November 12, 2024 - 16:31 GMT

FINANCIAL SERVICES INDUSTRY WILL AWARD LARGER YEAR-END BONUSES FOR FIRST TIME SINCE 2021: JOHNSON ASSOCIATES ANALYSIS

Investment banking underwriters to see largest increase on strong revenue growth NEW YORK, NY, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- Year-end incentive payments on Wall Street are set to jump throughout most of the financial …

Distribution channels: Banking, Finance & Investment Industry ...
Published on November 13, 2024 - 06:05 GMT

Bank of England to hear the views of local people in Birmingham about the cost of living

The Bank of England is to hear from local people in Birmingham about the impact of the cost of living on their finances, as part of our Citizens’ Forum Programme which has been running across the UK since 2018. The event is designed to gather information …

Distribution channels: Banking, Finance & Investment Industry
Published on November 13, 2024 - 00:00 GMT

Condor Announces 2024 Third Quarter Results

CALGARY, Alberta, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Condor Energies Inc. (“Condor” or the “Company”) (TSX:CDR), a Canadian based, internationally focused energy transition company focused on Central Asia is pleased to announce the release of its unaudited …

Distribution channels: Business & Economy, Energy Industry ...
Published on November 12, 2024 - 22:38 GMT

Home BancShares, Inc. to Participate in Fireside Chat at Stephens Annual Investment Conference – (Time Update)

CONWAY, Ark., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NYSE: HOMB) (“Home” or “the Company”), and its wholly-owned subsidiary, Centennial Bank (“Centennial”), announced that it would participate in a Fireside Chat during the Stephens Annual …

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Published on November 13, 2024 - 06:30 GMT

Web3 and AI Platform AGII Introduces Real-Time Anomaly Detection to Strengthen Security in Decentralized Systems

AGII’s advanced AI technology elevates decentralized system security with real-time anomaly detection, empowering Web3 ecosystems with proactive protection. SEATTLE, WA, UNITED STATES, November 13, 2024 /⁨EINPresswire.com⁩/ -- AGII, a pioneering …

Distribution channels: Banking, Finance & Investment Industry, Business & Economy ...
Published on November 13, 2024 - 06:15 GMT

Aisot Technologies Launches Investment Co-Pilot and Time-Boxed LLMs

The Investment Co-Pilot offers intuitive chat-based access to aisot’s AI-driven quant tools & time-boxed LLMs tackle look-ahead bias in forecasting. ZüRICH, ZH, SWITZERLAND, November 13, 2024 /⁨EINPresswire.com⁩/ -- Introducing the Investment …

Distribution channels: Banking, Finance & Investment Industry ...
Published on November 13, 2024 - 06:00 GMT

Multichain AI-NFT Platform Colle AI (COLLE) To Release AI-Driven NFT Valuation Tool for Accurate Market Pricing

LONDON, LONDON, UNITED KINGDOM, November 13, 2024 /⁨EINPresswire.com⁩/ -- Colle AI (COLLE), the leading multichain AI-NFT platform, is set to launch a cutting-edge AI-driven NFT valuation tool aimed at delivering accurate and reliable pricing for …

Distribution channels: Banking, Finance & Investment Industry, Business & Economy ...
Published on November 13, 2024 - 01:30 GMT

Global Digital Visionaries Council Unveiled Following Successful Digital Visionaries Symposium 2024

The Global Digital Visionaries Council (GDVC) was launched following the successful DVS 2024 which convened 300+ leaders representing $15 trillion in assets. HONG KONG, November 13, 2024 /⁨EINPresswire.com⁩/ -- The Global Digital Visionaries …

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Published on November 13, 2024 - 01:05 GMT

ResProp Awarded Management of Aulden at the Highlands Apartments in Dallas, Texas

DALLAS, TX, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- ResProp Management is now providing full-service property management for Aulden at the Highlands Apartments. Located in the heart of Dallas, this community offers residents easy …

Distribution channels: Banking, Finance & Investment Industry, Building & Construction Industry ...
Published on November 13, 2024 - 00:27 GMT

Community Unites to Help Fill-A-Bag for SnowCap Community Charities

Last year's Fill-A-Bag drive exceeded all expectations, doubling cash contributions and collecting thousands of pounds of food, clothing, and pet supplies. GRESHAM, OR, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- With the kick-off …

Distribution channels: Automotive Industry, Banking, Finance & Investment Industry ...
Published on November 13, 2024 - 00:00 GMT

Global Loyalty Management Market To Reach $20.3 Billion By 2028 With A Growth Rate Of 16.6%

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033 LONDON, GREATER LONDON , UNITED KINGDOM, November 13, 2024 /⁨EINPresswire.com⁩/ -- The Business Research Company’s Early Year- …

Distribution channels: Banking, Finance & Investment Industry, Business & Economy ...
Published on November 12, 2024 - 23:25 GMT

SunRocket Capital Closes $5.5 Million in Financing for a 1.35 MW Community Solar Project in Northeast

MIAMI, FL, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- SunRocket Capital, a structured finance partner to solar developers, is pleased to announce the closing of financing for a ground-mount community solar installation in Parkman, ME …

Distribution channels: Banking, Finance & Investment Industry, Business & Economy ...
Published on November 12, 2024 - 23:02 GMT

Meridian Listing Agent Kevin Harper Announces New Price For Spacious Copper Basin Home Featured on KIVI Channel 6

New price announced for 2764 s.f. home in desirable NE Meridian Copper Basin community. Includes master on main and guest bedroom with ensuite bathroom. MERIDIAN, ID, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- MERIDIAN, Idaho — …

Distribution channels: Banking, Finance & Investment Industry, Building & Construction Industry ...
Published on November 12, 2024 - 22:50 GMT

Archive Intel Partners with Stocktwits to Enhance Compliance for Financial Firms

Leading Fintech Platform Expands Capabilities with New Monitoring and Archiving Integration for Stocktwits ATLANTA, GA, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- Archive Intel, a premier provider of AI-powered compliance and …

Distribution channels: Banking, Finance & Investment Industry, Business & Economy ...
Published on November 12, 2024 - 22:41 GMT

Fischetti Law Group Expands Services with the Launch of its New Estate Planning Division

Fischetti Law Group does more than just Personal Injury. With the unveiling of our new division, we can also help with all of your Estate Planning needs! BOYNTON BEACH, FL, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- The Fischetti Law …

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Published on November 12, 2024 - 22:13 GMT

Mindatorium Secures Streaming Rights to 'The Man Who Met GOD' and Kicks Off Promotional Push in New York’s Times Square

Highly acclaimed documentary is now available for viewing exclusively on company’s global streaming platform BEVERLY HILLS, CA, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- Mindatorium, Inc, a Beverly Hills based multi-media …

Distribution channels: Amusement, Gaming & Casino, Banking, Finance & Investment Industry ...
Published on November 12, 2024 - 20:51 GMT

InsuredMine Unveils IM Sherpa – Dedicated InsuredMine expert for Agencies

InsuredMine launches IM Sherpa, a virtual assistant to help insurance agencies maximize efficiency, increase InsuredMine adoption & drive ROI. #InsurTech #CRM DALLAS, TX, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- InsuredMine is …

Distribution channels: Banking, Finance & Investment Industry, Business & Economy ...
Published on November 12, 2024 - 19:53 GMT

CETI AI Seizes Opportunity Amidst U.S. Pro-Tech Shift with Next-Gen AI & Blockchain Infrastructure

ORMOND BEACH, FL, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- CETI AI, a leader in AI infrastructure and blockchain solutions, is poised to seize unprecedented opportunities in the wake of the 2024 U.S. Elections. With the new …

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Published on November 12, 2024 - 19:28 GMT

2.34± Acres of Land Near Major Highways in Baltimore County MD set for Online Auction Announces Nicholls Auction Mktg

2.34 +/- Acres of Valuable Potential Filled Land Near Major Highways in the Heart of Baltimore County, MD--ONLINE ONLY BIDDING!! FREDERICKSBURG, VA, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- Nicholls Auction Marketing Group, Inc …

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Published on November 12, 2024 - 19:04 GMT

Ultra-Modern Toronto Estate Featuring Bespoke European Finishes to Auction via Concierge Auctions

A modern masterpiece in Edenbridge, Toronto, the property will be offered in cooperation with Peter Torkan and John Tomasone of The Agency Toronto NEW YORK, NY, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- A spectacular ultra-modern …

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Published on November 12, 2024 - 19:00 GMT

The 2:00 AM Code: The Empowerment Playbook for Career and Personal Success

A transformative guide empowering women to advance their careers with confidence, integrity, and the tools for personal success LOS ANGELES, CA, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- In an era where professional and personal …

Distribution channels: Banking, Finance & Investment Industry, Book Publishing Industry ...
Published on November 12, 2024 - 18:36 GMT

Compass Point Serves as Exclusive Financial Advisor to Arkon Energy on its Sale of Two Data Centers to MARA

WASHINGTON, DC, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- Compass Point Research & Trading, LLC (“Compass Point”), a leading middle market investment bank, is pleased to have served as exclusive financial advisor to Arkon Energy …

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Published on November 12, 2024 - 18:36 GMT

Arcus Partners Announces Integration and Reseller agreement with Quik! Forms for Wealth Management, RIA, and BD Firms

Arcus Announces Finity360 FORMS Plus: Seamlessly Integrating Quik! Forms Libraries into a native Salesforce Solution for Wealth Management, RIA, and BD Firms PHILADELPHIA, PA, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- Arcus Partners …

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Published on November 12, 2024 - 18:22 GMT

Desert Diamond Distillery's Barrel Program Offers Memorable Corporate Gifting Solution Amid Rum's Rising Popularity

Rum's popularity is on the rise offering a brilliant solution for memorable corporate gifting. Think barrel - not box! KINGMAN, AZ, UNITED STATES, November 12, 2024 /⁨EINPresswire.com⁩/ -- As premium rum consumption surges, with the global rum …

Distribution channels: Amusement, Gaming & Casino, Banking, Finance & Investment Industry ...