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Release Date: 11th January 2023

To access the original FCA document, click here.


Al Rayan Bank PLC has been fined £4,023,600 by the Financial Conduct Authority (FCA) for significant failings in its anti-money laundering (AML) systems and controls between April 2015 and November 2017. The fine was reduced by 30% from an initial £5,748,000 due to Al Rayan’s agreement to resolve the matter early.

Reasons for the FCA Fine:

Key Takeaways for Other Firms:


The FCA’s fine against Al Rayan Bank PLC underscores the importance of robust AML systems and controls. Financial institutions must ensure that they have effective measures in place to manage and mitigate financial crime risks, and must respond promptly to regulatory feedback to avoid similar penalties.

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