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UK: FCA warns challenger banks about financial crime

By Puja Sharma

July 19, 2022

  • banks in UK
  • Challenger Bank
  • Cyber Risks

The FCA found that, despite some evidence of good practice, such as innovative use of technology, challenger banks were not verifying customers to the required level of compliance, which created an environment of heightened risk for financial crime to occur, not just during onboarding but through the entire customer journey. A review by the Financial […]

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