UK’s Monzo Bank Slapped with £21M Fine: Addresses Falsely Listed as No 10 & Buckingham Palace
Regulatory Body Sanctions Digital Bank for Inadequate Client Onboarding Controls The UK-based digital bank Monzo has been fined £21 million due to insufficient controls over financial crimes, highlighted by the acceptance of customer registrations using highly unlikely residential addresses such as 10 Downing Street, Buckingham Palace, and even the address of Monzo’s own headquarters. Following … Read more





