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The UK’s Financial Conduct Authority (FCA) has fined the online bank Monzo the equivalent of more than $28 million for failing to properly collect customer information and protect against financial crimes. The move is the latest in a series of efforts by British authorities to combat chronic money laundering and other crimes that plague the country’s financial sector.
Ian Sherr, Compliance Week’s Editor-in-Chief, is a widely published journalist who has covered business, politics, and policy for outlets including CBS News, The Wall Street Journal, Reuters, and CNET. More by Ian Sherr
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