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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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Barclays fined record £284.4 million over Libor scandal

Barclays fined record £284.4 million over Libor scandal Credit: Yui Mok/PA Wire

Barclays has agreed a total of £1.53 billion in fines with both US and UK authorities amid a raft of new settlements with banks over their involvement in the rigging of global currency markets.

The British banking giant's penalty includes a record £284.4 million to the UK's Financial Conduct Authority and the group pleaded guilty to a violation of anti-trust law in the US.

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