London, July 8, 2025 (AFP) - UK fines digital bank Monzo over anti-fraud failings

NAMPA / AFP

2025-07-08

Britain's financial regulator on Tuesday said it had fined digital bank Monzo more than £21 million ($28.5 million) for anti-fraud failings, which included customers using false addresses such as Buckingham Palace. The Financial Conduct Authority said the penalty totalling £21,091,300 was for Monzo's "inadequate anti-financial crime systems and controls between October 2018 and August 2020". The bank thereafter "repeatedly breached a requirement......

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