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July 8, 2025

Monzo slapped with £21m fine for 'failings in financial crime controls'

The UK neobank is the latest fintech to be hit with a fine over its financial crime controls

Tom Matsuda

2 min read

Monzo faces a £21m fine for "inadequate anti-financial crime systems and controls" after repeatedly opening accounts for high-risk customers, the latest in a string of penalties issued against UK fintechs over financial crime controls. 

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Tom Matsuda

Tom Matsuda is a fintech reporter at Sifted and writes our weekly fintech newsletter. Find him on X and LinkedIn

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