Metro fined £16m after warnings from junior staff were met with inaction

Metro Bank has received a £16.7 million penalty for anti-money laundering (AML) inadequacies resulting from the design of its reconciliation systems, as well as other IT issues.

By Neasa MacErlean

Although junior staff had noticed and reported errors after a year, the failings occurred over a 54-month period and some persisted even when they were recognised and the bank tried to fix them.