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Monzo fined GBP21 million over lax UK financial crime controls in 2018-2020

By Martin Coyle ( July 8, 2025, 09:51 GMT | Insight) -- UK online bank Monzo has been fined 21.1 million pounds ($28.7 million) by the country’s financial regulator for financial crime failings between October 2018 and August 2020. The challenger bank has been under investigation by the Financial Conduct Authority since 2021 when the regulator began looking at its financial crime and anti-money laundering controls.UK online bank Monzo has been fined 21.1 million pounds ($28.7 million) by the country’s financial regulator for financial crime failings over a two-year period....

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