The bank says that it “received confirmation of its position on the FCA’s watchlist for financial crime compliance” on 6 June, and that the action related to the “ongoing management of financial crime risk” within its back book and online account provisions.
As part of this, the regulator is expected to instate monitors to test the effectiveness of its financial crime controls and report back on progress.
“The group continues to engage, update and co-operate fully with the FCA on these matters and the FCA’s enquiries remain ongoing,” Metro says.
