Barclays was fined $ 62 million

One of the largest British banks Barclays was fined 37.7 million pounds ($ 62 million) for improper handling of client funds. This is stated in the September 23, a message on the financial supervision of the United Kingdom.

It is reported that from 2007 to 2012, Barclays repeatedly violated the rule of storing customer funds separately from the bank’s own assets and was fined 1 million pounds ($ 1.6 million) for a similar abuse. According to the agency, the amount of this fine increased significantly, since the bank “failed or did not want to” correct the existing mistakes.

“After the bankruptcy of Lehman Brothers in 2008, when many customers could not access their funds, each financial institution must fully realize the inadmissibility of confusion of client and own funds,” says the head of the regionality and financial crimes of the Tracy McDerott Office.

It is noted that Barclays recognized the legality of the decision of the controlling body and confirmed their readiness to pay a fine, adding that no client “was injured” as a result of the abuse described.