Starling Bank Fined £29M Over Weak Crime Prevention Measures 🚨
The UK financial watchdog has imposed a £29 million fine on Starling Bank due to significant lapses in its financial crime screening processes, raising concerns over its compliance standards.
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Starling Bank has been fined £29 million by the UK’s financial watchdog for failings over its financial crime screenings, which the regulator described as “shockingly lax”. Starling said it accepts that failings took place between December 2019 and November 2023.<br /> The bank said it has introduced “extensive additional safeguards” to ensure it complies with regulatory requirements.
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Oct 2, 2024
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