The perils of automating anti-money laundering controls

Reported by James Langton Amid allegations of inadequate anti-money laundering and financial crime controls, the U.K.’s Financial Conduct Authority (FCA) has fined Metro Bank plc £16.7 million. In a release Monday, the FCA said it sanctioned the bank for allegedly breaching the regulator’s principles by implementing a flawed system that was supposed to automatically monitor […]