Digital bank Monzo accepted customers claiming to live at 10 Downing Street, Buckingham Palace and even its own premises, an ...

Britain's financial regulator has fined digital bank Monzo 21 million pounds ($28.57 million) for inadequate protection ...

U.K. regulators said Monzo didn't properly vet new customers, while Vocalink was dinged for risk management lapses. Also, ...

This is the 10th financial crime control failings-related fine imposed by the FCA in the last four years, and follows a similar action against fellow UK neobank Starling last year.

Monzo has been fined £21m by the Financial Conduct Authority (FCA) for its failures regarding anti-financial crime measures.

Monzo had no process to verify customer addresses, leading to accounts given to fake Buckingham Palace address.

The FCA said Monzo’s financial fraud systems and controls ‘failed to keep pace’ with its rapid growth in customers numbers in ...

The FCA said Monzo’s financial crime systems and controls ‘failed to keep pace’ with its rapid growth in customers numbers in ...

The Financial Conduct Authority found customers were allowed to register bank accounts to addresses including PO Boxes and ...

Britain's financial regulator has fined digital bank Monzo 21 million pounds ($28.57 million) for failings in its ...