Compliance Monitor

Starling Bank has been penalised £28,959,426 for failings in its financial crime systems and controls thatallowed it to open accounts for over 500 high-risk customers who should have been immediately refused.

Deepfake incidents in the financial sector increased within Europe by over 780 per cent last year. Given the threats this technology presents to customer onboarding, fraud detection and systems security, Caroline Dawson and Oscar Tang outline the regulatory landscape and suggested actions for firms.

TSB has been penalised £10.9 million for failing to ensure that customers in arrears were treated fairly.