Starling Bank FCA fine for lax AML controls
Starling Bank issued enforcement fine affecting Financial Conduct Authority on October 2, 2024.
- Primary
- Starling Bank
- Counterparty
- Financial Conduct Authority
- Amount
- $39M
- Structure
- enforcement fine
- Date
- October 2, 2024
- Sub-sector
- Neobank
FCA enforcement against neobank for inadequate AML/sanctions screening and account-opening controls signals tightening regulatory scrutiny of fintech compliance infrastructure.
Source: fortune.com