Monzo’s UK money laundering probe widens

( June 1, 2023, 07:46 GMT | Official Statement) -- MLex Summary: Online bank Monzo has said that a money laundering probe into it has now been expanded. The UK’s Financial Conduct Authority opened a probe into Monzo’s anti-money laundering and financial crime systems and controls in 2021. The initial investigation spanned 2018 to 2021, but in a financial statement, Monzo has said the FCA is now investigating the period up to June 2022. “The investigation is a dual-track civil and criminal matter. We continue to cooperate with the FCA in its investigation,” the bank said.Extract from annual report below....

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