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Indian state-owned lender Canara Bank will pay almost £1 million in penalties and refrain from taking on new business and clients until November to resolve “endemic” breaches of anti-money laundering rules. A 44-page notice published Wednesday by the U.K. Financial Conduct Authority lists a litany of compliance-related violations by Canara Bank’s branches in London and Leicester from late 2012 to early 2016, including failures to vet clients, train staff for AML purposes and ensure that senior managers understood financial-crime risks and local regulations. “Canara failed to implement adequate AML systems and controls, and failed to rectify identified weaknesses in its...