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The Guardian

Starling Bank fined £29m for ‘shockingly lax’ financial crime controls

The Guardian on
Starling Bank fined £29m for ‘shockingly lax’ financial crime controls



Challenger bank apologises after City regulator says lack of checks ‘left system wide open to criminals and those subject to sanctions’Business live – latest updatesStarling Bank has been fined £29m by the City watchdog for “shockingly lax” financial crime controls that “left the financial system wide open to criminals and those subject to sanctions”.The Financial Conduct Authority (FCA) said Starling, one of the UK’s most popular challenger banks, had expanded quickly but “measures to tackle financial crime did not keep pace with its growth”. Continue reading…



Source link : https://www.theguardian.com/business/2024/oct/02/starling-bank-fined-29m-for-shockingly-lax-financial-controls

Author : Julia Kollewe

Publish date : 2024-10-02 14:51:15

Copyright for syndicated content belongs to the linked Source.

Tags : The Guardian

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