Britain's financial watchdog on Wednesday said it had fined Barclays bank $56 million for "poor handling of financial crime risks". The Financial Conduct Authority said in a statement that the fine was "for separate instances of failings in its financial crime risk management" between 2015 and 2023.

The FCA has previously fined Barclays over failings in financial crime controls. In 2015, the bank paid £72mn over a transaction linked to politically exposed persons and in 2022 it was fined over its relationship with the failed payments company Premier FX.