FCA demand better background checks of Barclays
UK bank Barclays have come under fire due to their misconduct in dealing with loans taken out by wealthy clients. Barclays have commented that they “did not want to inconvenience” the purportedly trustworthy customers, who were not properly checked prior to receive loans from the company.
With the wrong doing taking place over 2011 and 2012, it’s estimated over £1.88 billion slipped through the cracks unchecked due to Barclays’ bad background checks. The Financial Conduct Authority are now involved in the case, and claim “low level” checks were installed despite “politically exposed persons” being included in the clientele.
The FCA have since drawn up a charge of £72 million to be paid by Barclays in compensation to the government body.
Find out more about the bad background checks case on BBC News.
How we can help with security and employee background checks
Starlight Investigations’ private investigator team is highly equipped to thoroughly and discreetly check employee and client background history – before it’s too late. If you’re concerned about a dark secret looming in someone’s past, be smart. Don’t let it affect your business – hire us today.
Find out more about our employee background checks services here.