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…
AML, Banking, Compliance, Financial Crime, Regulatory, UK
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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".