Digital banks showing weaknesses in their financial crime defe | Argenta Solutions Fintech

Digital banks showing weaknesses in their financial crime defenses, UK regulator warns

Britain’s online-only challenger banks need to do more to prevent the abuse of their platforms by criminals, regulators have warned.
The Financial Conduct Authority on Friday published the findings of a review into financial crime controls at several U.K. challenger banks — younger banks set up with the aim of taking on incumbent lenders.

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https://www.fca.org.uk/news/press-releases/review-weaknesses-challenger-banks-financial-crime-controls