Britain’s financial regulator fined Barclays 42 million pounds ($56 million) on Wednesday for failing to evaluate money laundering risks while providing services to its clients Stunt & Co and WealthTek.
The biggest portion of the fine is related to its banking relationship with gold bullion business Stunt & Co, a customer of Fowler Oldfield, which was linked to a major money laundering operation.
“Barclays did not gather enough information at
