Nationwide fined £44m by watchdog for financial crime control failings
Ineffective systems culminated in serious case of Covid fraud that left UK taxpayers £800,000 out of pocketNationwide has been fined £44m by the City watchdog over “weak” financial crime controls that culminated in a serious case of Covid fraud that left UK taxpayers £800,000 out of...
<p>Ineffective systems culminated in serious case of Covid fraud that left UK taxpayers £800,000 out of pocket</p><p>Nationwide has been fined £44m by the City watchdog over “weak” financial crime controls that culminated in a serious case of Covid fraud that left UK taxpayers £800,000 out of pocket.</p><p>The Financial Conduct Authority (FCA) fined the building society for failures stretching over nearly five years. It said the lender had been aware that some customers were using personal accounts for business activity, in a breach of its own terms.</p> <a href="https://www.theguardian.com/business/2025/dec/12/nationwide-fined-44m-by-watchdog-for-financial-control-failings">Continue reading...</a>
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