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The financial guard has a fine of Barclays with a fine of £ 42 million because of his “bad handling” of financial criminal risks.

The Financial Conduct Authority said that the fines were associated with separate failure that were connected to the WEALTHTEK and Stunt & Co companies.

It has a fine of Barclays Bank 39.3 million GBP for the “non -adequate management of money laundering risks” in relation to the provision of banking services for Stunt & Co, the company led by Socialite James, in relation to the provision of banking services.

The guard has the details:

In just over a year, Stunt & CO received 46.8 million GBP from Fowler Oldfield, a money laundering operation of several million pounds, said the FCA.

Barclays could not properly take into account the money laundering risks associated with the law firm after they had received oldfield from the law enforcement authorities about alleged money laundering from Fowler and after learning that the police had searched both companies.

Barclays only conducted a review of his exposure to Fowler Oldfield through his customers, including Stunt & Co, after she learned from the decision of the FCA to pursue Natwest because of her relationship with Fowler Oldfield. By providing ongoing banking services for Stunt & Co, Barclays enabled the movement of funds in connection with financial crime.

Barclays received a fine of 3.1 million GBP for not checking whether it had collected enough information to understand the risk of money laundering before it opened a customer money account for the now composed asset management company WELTHTEK.

Without the right information about WELTHTEK and how the account would be used, there was an increased risk of misunderstanding customer money or money laundering. Customers continued to submit £ 34 million to the account. Barclays agreed to make a voluntary payment of 6.3 million GBP to WEALTHTEK customers who, according to Financial Watchdog, have a lack of money that they could get back.

Therese Chambers, Joint Executive Director of Enforcement and Market Oversight at the FCA, said: