Barclays fined £42m over money laundering checks

Barclays Bank fined £42m by UK watchdog for money laundering risk management failures, citing shortcomings in vetting clients Stunt & Co and WealthTek. The Financial Conduct Authority noted "facilitated movement of funds linked to financial crime" by Barclays, raising risk of money laundering and misappropriation. Barclays is yet to comment on the matter.