The Royal Bank of Scotland's fine for incorrectly reporting transactions was reduced by 30 percent after the bank reached a settlement with the Financial Conduct Authority.
"The size of the fine reflects the serious nature of the issue," the FCA said after fining the bank £5,620,300.
"RBS agreed to settle at an early stage of the investigation."
More top news
The former Deputy Speaker of the House of Lords has resigned following allegations he took drugs with prostitutes. But who is he?
A murder investigation has been launched after a man was fatally stabbed and another injured in an apparent attack at a house in York.
Enraged after a thief raided his favourite local restaurant, a tough-talking US cop is using the internet in a bid to track down the culprit