Starling Bank fined £29m by watchdog over ‘shockingly lax’ crime controls

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.
The bank said it has introduced “extensive additional safeguards” to ensure it complies with regulatory requirements.