The FCA has fined Canara Bank £896,100 and has imposed a restriction, preventing it from accepting deposits from new customers for 147 days.

A new watchdog has been set up by the government to boost the fight against money laundering and terrorist financing, so-called 'dirty money.'

The Financial Conduct Authority is to resume its investigations into the Reading-based branch of Halifax Bank of Scotland after a police probe resulted in six people being jailed for a total of 47 years for fraud and money laundering offences.

The FCA has fined Sonali Bank’s UK arm £3,250,600 today and banned its former money laundering reporting officer.