Banking

The Financial Conduct Authority (FCA) has fined HSBC £63,946,800 for failings in its anti-money laundering processes. HSBC used automated processes to monitor hundreds of millions of transactions a month to identify possible financial crime. However, the FCA found that three key parts of HSBC&

NatWest has been fined £264.8 million following convictions for three offences of failing to comply with money laundering regulations. Mrs Justice Cockerill, the sentencing judge at Southwark Crown Court, yesterday said: “….it must be borne in mind that although in no way complici

Challenger bank Monzo now has three million customers, with sign-ups continuing to rise for the app-only bank. Monzo reached the milestone only four months after acquiring two million users and the company said it is currently taking on 55,000 new customers every week.