Drivers are racking up £200,000 in fines a day by passing through a single junction in the heart of central London. 

Seven cameras have been focused on Bank Junction in order to catch out motorists, with 1,500 captured passing through the road each day.

All vehicles, apart from buses and bikes, were banned from using the junction last year to 'improve safety' and cut down on accidents. The snares are taking in around £16,228 an hour with fines rising as high as £50million by the end of the year, reports the Daily star. 

Conservative MP Charlie Elphicke has accused the City of London  of 'fleecing' motorists - rather than focusing on safety.

He said: 'Cameras are simply there to raise revenue cause big resentment and are incredibly unfair.'

However, City of London said the measure will cut down on crashes, reduce pollution and congestion.   

A spokesman said: 'Our number one priority for the experimental scheme at Bank junction is to improve safety.