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971 Starling Bank fined £29m for failings in financial crime prevention

UK Tech News
Oscar Hornstein @ UK Tech News · 10/02/2024 06:07 EDT

Starling Bank fined £29m for failings in financial crime prevention

Starling Bank has been fined £29m by the UK financial watchdog for failings in its financial sanctions screening system. The Financial Conduct Authority (FCA) said on Wednesday that Starling, worth over $3bn, repeatedly breached a requirement to not open accounts for “high-risk” customers. According to the regulator, Starling’s jump in users from 43,000 in 2017 ...

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