The U.K. Financial Conduct Authority fined Barclays £72 million on Thursday for trashing its own rules on making background checks on clients and the origin of their cash, and whether they figured on international sanctions lists.<br />Barclays said there was no evidence a crime had been committed, and that it "continues to apply significant resources and training to ensure compliance with all legal and regulatory requirements."<br />But regulators said the lengths a handful of Barclays employees went to hide the £1.9 billion transaction , including from the bank's own staff, "threatened confidence in the U.K. financial system."<br />The bank had failed to perform proper due diligence that should have thrown up a number of red flags, the FCA said, adding it had tripled the size of the fine to act as a deterrent to others.
