The United Kingdom’s finance regulator fined Metro Bank for failing to monitor money laundering risks. The Financial Conduct Authority said Metro must pay 16.7 million pounds (about $21 million) for a lack of proper money laundering protections on 60 million transactions between 2016 and 2020,...
Meta launched an anti-fraud information-sharing partnership with banks in the United Kingdom. The Fraud Intelligence Reciprocal Exchange (FIRE) is a “threat intelligence sharing program” that lets banks share information with Meta directly so the tech giant can use it to stop scammers, according to a...
Metro Bank has appointed Barclays veteran Marc Page as chief financial officer. Page will join the U.K. bank and its board Sept. 2, subject to regulatory approval, Metro Bank said in a Thursday (Feb. 29) press release. In the meantime, Cristina Alba Ochoa will continue to act as the bank’s interim CFO, according...
Great Britain’s smaller banks are apparently among the largest targets for payment fraud. That’s according to a report issued Tuesday (Oct. 31) by the U.K.’s Payment Systems Regulator (PSR) examining the extent of authorized push payments fraud (APP). “This is the first time we can...
December 10, 2024
A wave of funding rounds over the past several months is giving challenger banks fresh financial firepower to position themselves as alternatives to traditional banks, mainstays of financial services that have been around for decades — even centuries. While these digitally focused challengers promise to bring financial services and products to just about anyone who […]
November 12, 2024
The United Kingdom’s finance regulator fined Metro Bank for failing to monitor money laundering risks. The Financial Conduct Authority said Metro must pay 16.7 million pounds (about $21 million) for a lack of proper money laundering protections on 60 million transactions between 2016 and 2020, according to a Tuesday (Nov. 12) press release. “Metro’s failings […]
October 02, 2024
Meta launched an anti-fraud information-sharing partnership with banks in the United Kingdom. The Fraud Intelligence Reciprocal Exchange (FIRE) is a “threat intelligence sharing program” that lets banks share information with...
February 29, 2024
Metro Bank has appointed Barclays veteran Marc Page as chief financial officer. Page will join the U.K. bank and its board Sept. 2, subject to regulatory approval, Metro Bank said in a Thursday (Feb. 29) press...
October 31, 2023
Great Britain’s smaller banks are apparently among the largest targets for payment fraud. That’s according to a report issued Tuesday (Oct. 31) by the U.K.’s Payment Systems Regulator (PSR) examining...
