This is the 10th financial crime control failings-related fine imposed by the FCA in the last four years, and follows a ...

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

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

The digital bank has been fined £21m by the City regulator for anti-fraud failures.

Monzo handed out bank accounts to new customers claiming to live in 10 Downing Street and even Buckingham Palace. The digital ...

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

The UK financial regulator has fined Monzo £21mn for repeatedly breaching rules against opening accounts for “high-risk customers” after the digital bank took on clients that provided “obviously ...

Monzo has been fined £21m by the FCA after allowing fraudsters to open accounts using implausible addresses including ...

Monzo Bank has been fined £21million for 'inadequate anti-financial crime systems' spanning a period between October 2018 and ...

Britain's Financial Conduct Authority has fined the online bank Monzo the equivalent of more than $28 million for failing to ...

The bank failed to maintain adequate anti-financial crime systems and controls from October 2018 to August 2020.

FCA mentioned that Monzo's address verification controls were inadequate, as they failed to verify all beneficial owners and ...