Risk Level:
unknown %

Status:
Risk Alert – Entity in a problematic sector - Sector controlled by the Top Alert entities

Info:
METRO Bank is undergoing a major review of its compliance controls after handling money from Cuba and Iran in breach of strict US and EU sanctions;

The review is being handled by a top level team of investigators at law firm DLA Piper, which was hired after the Iranian funds were received by the bank last year;

Depending on how the authorities assess the review outcome, Metro could face swingeing fines although it has not made any provisions in its accounts for such an outcome. Iran is sanctioned in the UK and EU as well as the US;

Compliance experts said that, under KYC rules, it is no excuse to say a payment from a banned company came via a third party. Banks also have a duty to make sure they are not dealing with anyone on the regular OFAC lists of banned organisations and individuals;

Established:
2010

Country:
United Kingdom

Address:
United States

Website:
www.metrobankonline.co.uk

E-mail:
info@metrobankonline.co.uk

Reason for the color:
» Metro Bank in probe over Iran sanctions breaches;


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IFMAT Color Guide

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We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
 
TOP ALERT
Designated / Sanctioned / Illicit entities
 
HIGH ALERT
Entities affiliated with Designated / Sanctioned / Illicit entities.
 
MEDIUM ALERT
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
 
RISK ALERT
Entities in a problematic sector - Sector controlled by the Top Alert entities.
 
GENERAL ALERT
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.