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Starling Bank hit with £29m fine by FCA for financial crime system failings

Hedge Funds Correspondent

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The Financial Conduct Authority has fined Starling Bank £29m for the fintech’s failure to comply with financial crime system and control requirements set out by the authority.

Starling Bank “repeatedly” breached the FCA’s requirement not to allow high-risk customers to open accounts, according to a 2 October statement by the regulator.

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