Reported by Shekina Tuahene The Financial Conduct Authority (FCA) has fined Starling Bank £29m for failing to stop customers involved in criminal activities from having an account.  The failings related to its ‘financial sanctions screening’, which is the process of identifying whether individuals may be considered high-risk or be subject to economic sanctions and to […]

Reported by Pete Schroeder The Federal Reserve announced on Tuesday that it had terminated a 2013 enforcement action it filed against Citigroup (C.N) over shortcomings in its capacity to police money laundering. The enforcement action, which did not carry a fine, was filed against the bank and its Banamex subsidiary over deficiencies in the firms’ anti-money laundering programs, […]

Reported by Daily Hodl Staff Bank of America customers are reporting massive issues with online and mobile banking. The site monitoring service Downdetector shows tens of thousands of customers have reported severe service disruptions in the last few hours, with users on the social media platform X stating that their balances have dropped to zero. Downdetector says it’s […]