08-Oct-2024 In October 2024, the Financial Conduct Authority (FCA) imposed a staggering £29 million fine on...
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How To Avoid FCA Fines: Lessons From Starling Bank’s £29M Sanctions Screening Failure
In October 2024, the Financial Conduct Authority (FCA) imposed a staggering £29 million fine on Starling Bank for significant lapses in its financial sanctions screening processes. This landmark case serves as a critical reminder of the importance of robust sanctions compliance for financial institutions worldwide.
At ZIGRAM, we recognize the complexities and challenges associated with sanctions screening. As a leading provider of compliance solutions, we believe it’s essential to dissect this case to understand the pitfalls and reinforce best practices in sanctions compliance.
