HSBC bank will have to pay up almost £300,000 after breaching a court order last year.
The Financial Services Authority says the incident happened in August 2023, when the bank made three payments to a client despite a Restraint Order issued by a court under the Proceeds of Crime Act.
The regulator said the bank had failed to carry out due care and diligence, but had improved its operations since.
The FSA imposed a £419,900 civil penalty, reduced to £293,930 because of the company's cooperation.
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