Bank of Scotland (BoS) has been fined by a regulator for breaking sanctions related to Russia's war in Ukraine.
The Office of Financial Sanctions Implementation (OFSI) said a penalty of £160,000 had been imposed over financial transactions dating back to 2023.
The body said the bank processed 24 payments in February that year totalling £77,383 to and from a personal current account held by a UK-designated person. That person was not identified.
Money latest: Criminal barrister talks about 'painfully low' salaries
OFSI, which oversees compliance with all sanctions levied against Russia on behalf of the UK government, said it had concluded that the bank breached prohibitions on dealing with, and making funds available to, a sanctioned person.
Bank of Scotland said it had flagged the issue to the UK authorities the following month.
The penalty for Bank of Scotland, which is part of Lloyds Banking Group, was cut by 50% thanks to it voluntarily disclosing the breaches a month after the payments were made.
A spokesperson for its parent firm responded: "Lloyds Banking Group takes its regulatory responsibilities extremely seriously.
"We acted swiftly and transparently, proactively referring this one-off, isolated matter to the Office of Financial Sanctions Implementation and working closely with them throughout.
"OFSI has recognised our prompt voluntary disclosure, resulting in the maximum possible reduction of the penalty.
"We have further strengthened our controls to ensure we continue to meet the highest standards of risk management and governance."
(c) Sky News 2026: UK bank fined for breaking Russia sanctions
How woman's 'fairytale' home upgrade turned into a nightmare
Oscar nominations: The biggest snubs and surprises
South East Water action group demands boss’s immediate removal
Any survival hope for PM meant shutting Burnham out - but Starmer and his team can't predict what comes next
'Life-threatening' storm forecast in US as more than a dozen states declare emergency
How Paris Hilton turned 'pain and abuse' into the 'most meaningful work' of her life
