Anti-Financial Crime & Financial Crime Compliance
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LATEST: Barclays is investigated by FCA for ‘persistent’ KYC and AML failings; regulator sends in experts to review UK lending giant

RULING: Judge George Leggatt said the idea that banks owe a contractual duty to its customers to not carry out payment instructions if they suspect fraud is "inconsistent with first principles of banking law".

By AML Intelligence Correspondent BRITAIN’S financial regulator is investigating Barclays PLC for suspected failings in its compliance and anti-money laundering systems. The Financial Conduct Authority (FCA) has requested an independent review of Barclay’s systems after noting a number of anti-money laundering incidents. The FCA wrote to the heads of Barclay’s corporate banking and UK retail…

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