Barclays faces a £42 million reckoning after serious anti-money laundering failures tied to high risk clients. In a sweeping rebuke from UK regulators, Barclays has been fined over £42 million for turning a blind eye to financial crime red flags.
This enforcement action highlights the urgent need for financial institutions to reinforce AML frameworks, conduct robust client due diligence, and escalate suspicious indicators proactively. 1.