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Barclays pays £1.5bn as banks fined over forex scandal

Barclays has been fined a record £284.4 million by British regulators and around £1.5bn in total as part of a UK and US settlement with authorities over the foreign exchange trading scandal.

Five banks - including Barclays and Royal Bank of Scotland - were fined a total of more than $5 billion by the US Department of Justice over the manipulations.

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RBS fined £430 million by US authorities in Forex scandal

RBS Credit: Philip Toscano/PA Wire

Royal Bank of Scotland i among five banks hit with fines over involvement in the rigging of global currency markets and has agreed to pay $669 million (£430 million) to US authorities.

It comes on top of a £399 million penalty last November, including £217 million by the FCA and $290 million (£186 million) by the US Commodity Futures Trading Commission (CFTC).

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