PwC fined UK£15m for not blowing whistle on suspected fraud at LCF

Britain's Financial Conduct Authority has fined auditor PricewaterhouseCoopers LLP (PwC) UK£15 million (US$19.5 million) for failing to report suspicions that its client London Capital & Finance plc (LCF) might be involved in fraud

By Sarah Gibbons

Britain's Financial Conduct Authority (FCA) has fined auditor PricewaterhouseCoopers LLP (PwC) UK£15 million (US$19.5 million) for failing to report suspicions that its client London Capital & Finance plc (LCF) might be involved in fraud