{"id":739,"date":"2024-10-02T07:45:36","date_gmt":"2024-10-02T11:45:36","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/?p=739"},"modified":"2024-10-02T07:45:37","modified_gmt":"2024-10-02T11:45:37","slug":"uk-fca-fines-bank-29m-for-sanctions-compliance-failings","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2024\/10\/02\/uk-fca-fines-bank-29m-for-sanctions-compliance-failings\/","title":{"rendered":"UK &#8211; FCA fines bank \u00a329m for sanctions compliance failings"},"content":{"rendered":"\n<p>The UK&#8217;s Financial Conduct Authority has today fined Starling Bank \u00a328,959,426 for sanctions compliance failings.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.fca.org.uk\/news\/press-releases\/fca-fines-starling-bank-failings-financial-crime-systems-and-controls#:~:text=The%20FCA%20continues%20to%20supervise%20firms%20to%20ensure%20that%20they\">Final Notice<\/a> states that the bank became aware in January 2023 that its screening was being done against a small sub-set of the Consolidated List of sanctions targets.<\/p>\n\n\n\n<p>The FCA described the compliance program at Starling as &#8220;shockingly lax&#8221;.<\/p>\n\n\n\n<p>The FCA also noted that the fine would have been \u00a340,959,426 without Starling&#8217;s agreement to resolve the matter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK&#8217;s Financial Conduct Authority has today fined Starling Bank \u00a328,959,426 for sanctions compliance failings. The Final Notice states that the bank became aware in January 2023 that its screening was being done against a small sub-set of the Consolidated List of sanctions targets. The FCA described the compliance program at Starling as &#8220;shockingly lax&#8221;. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2024\/10\/02\/uk-fca-fines-bank-29m-for-sanctions-compliance-failings\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;UK &#8211; FCA fines bank \u00a329m for sanctions compliance failings&#8221;<\/span><\/a><\/p>\n","protected":false},"author":656,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79,71],"tags":[20,12,9],"ppma_author":[7],"class_list":["post-739","post","type-post","status-publish","format-standard","hentry","category-79","category-financial-services","tag-financial-sanctions","tag-fine","tag-united-kingdom"],"authors":[{"term_id":7,"user_id":656,"is_guest":0,"slug":"mhandley","display_name":"Mark Handley","avatar_url":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-content\/uploads\/sites\/65\/2023\/09\/handleymark-100x100.jpg","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/users\/656"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/comments?post=739"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/739\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/media?parent=739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/categories?post=739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/tags?post=739"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/ppma_author?post=739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}