Brief
FCA fines £16.8m so far in 2026, up from £12.3m
FCA fines reached £16.8m across 9 cases so far in 2026. A breakdown by year, breach theme and the largest recent penalties, with MEMA's view.
Michaela Clarke
Operations & Compliance Coordinator
The FCA has imposed £16.8m in fines across 9 cases so far in 2026, compared with £12.3m across 6 cases in the same period of 2025. Full-year 2025 closed at £124.2m.
So far in 2026 the FCA has issued £16.8m in fines across 9 cases, higher in value than the £12.3m recorded in the same period a year earlier. This suggests enforcement concentrated in a small number of high-value cases, and in practice the themes and firms below matter more than the raw count.
Fines by year
| Year | Fines | Total |
|---|---|---|
| 2026 (to date) | 9 | £16.8m |
| 2025 | 23 | £124.2m |
| 2024 | 27 | £176.0m |
| 2023 | 12 | £53.4m |
| 2022 | 25 | £215.4m |
Across the past five years, 2022 recorded the highest total at £215.4m, and 2026 stands at £16.8m so far.
Fines by breach theme
| Breach theme | Cases | Total | Share of value |
|---|---|---|---|
| Anti-money laundering | 5 | £86.9m | 27% |
| Systems and controls | 3 | £47.5m | 15% |
| Market abuse | 13 | £44.4m | 14% |
| Other | 7 | £41.8m | 13% |
Since 2024, anti-money laundering has driven the most value at £86.9m, which is 27% of all FCA fine value in that period.
Largest recent fines
| Firm | Fine | Year | Breach theme |
|---|---|---|---|
| Nationwide Building Society | £44.1m | 2025 | Systems and controls |
| Barclays Bank plc | £39.3m | 2025 | Anti-money laundering |
| Barclays plc | £30.0m | 2024 | Other |
| Starling Bank Limited | £29.0m | 2024 | Anti-money laundering |
| Citigroup Global Markets Ltd | £27.8m | 2024 | Market abuse |
| Monzo Bank Limited | £21.1m | 2025 | Principles |
| Metro Bank plc | £16.7m | 2024 | Anti-money laundering |
| PricewaterhouseCoopers LLP | £15.0m | 2024 | Market abuse |
MEMA view
the concentration of value in anti-money laundering and systems and controls signals where enforcement risk is highest, and it indicates that financial crime and control frameworks remain the FCA's most active area. With 12 cases of £10m or more since 2024 accounting for 85% of total fine value, headline figures are driven by a small number of large cases and are likely to stay volatile from year to year.
Actions for firms
- Firms should consider benchmarking their financial crime and AML controls against the anti-money laundering theme, which accounts for £86.9m since 2024.
- MEMA recommends a risk-based review of systems and controls and governance where oversight gaps could draw scrutiny.
- Firms should assess whether monitoring, testing and management information keep pace with the areas attracting the largest fines.
Sources
- FCA final notice: Nationwide Building Society (2025)
- FCA final notice: Barclays Bank plc (2025)
- FCA final notice: Barclays plc (2024)
- FCA final notice: Starling Bank Limited (2024)
- FCA final notice: Citigroup Global Markets Ltd (2024)
Firms seeking to strengthen their compliance arrangements can consider MEMA's financial crime and AML support and FCA compliance consultants.
Figures from MEMA's FCA fines tracker.
Frequently asked questions
How much has the FCA fined firms so far in 2026?
The FCA has issued £16.8m in fines across 9 cases so far in 2026.
What is the largest recent FCA fine?
Nationwide Building Society was fined £44.1m in 2025 for systems and controls breaches.
Which breach types attract the biggest FCA fines?
Since 2024, anti-money laundering leads at £86.9m, followed by systems and controls at £47.5m, and market abuse at £44.4m.
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