Lead Story Picture
Online lender Monzo Bank has announced that the City watchdog has started an investigation into potential breaches of Britain's financial crime regulations. (Adrian Dennis/AFP via Getty Images)

FCA Probes Monzo Bank Over Potential AML Breaches

Online lender Monzo said on Friday that the Financial Conduct Authority has launched a probe into its compliance with anti-money laundering rules after it revealed £130 million ($180 million) in losses for the financial year to February.

Top Stories

Amazon Hit With €746M Privacy Fine From EU Regulators

Luxembourg's data protection regulator has fined Amazon a record €746 million ($884.9 million) for allegedly violating the European Union's stringent data protection rules through its collection and use of personal data.

Ex-SFO Official Says ENRC Was On Course For Charges

A former Serious Fraud Office investigator testified Friday that Eurasian Natural Resources Corp. was heading toward criminal charges after a Dechert attorney revealed suspicions that the mining company had breached sanctions and bribed African officials.

Binance Crypto-Exchange Winds Down Derivatives In Europe

Cryptocurrency firm Binance announced on Friday that it is winding down its futures and derivatives product offerings across Europe, where it has been coming under increasing regulatory scrutiny amid concerns about compliance and protection for investors.

Travel Agency Ruled Liable For Rape By Hotel Worker

The U.K.'s top court ruled Friday that a travel agency is liable for the conduct of a hotel worker who sexually assaulted a tourist in Sri Lanka while she was on one of its package holidays.

InterDigital Wins 1st 4G Patent Trial Against Lenovo In UK

InterDigital scored a victory in its patent battle with Lenovo when a London judge ruled Thursday in the first of a series of trials that the Chinese tech giant infringed a valid standard-essential patent for 4G wireless technology.

HSBC Says Data Gaps Make FX Rigging Suit Impossible

HSBC argued at a London court Thursday that a lack of trading data means it is almost impossible for a U.K. currency firm to prove allegations the bank's traders routinely rigged foreign exchange markets in a bid to make dishonest profits.

FCA Eyes Shifting To Centralized Powers For Speedier Action

The Financial Conduct Authority floated plans on Thursday that will give senior members of its staff greater powers to take supervisory and enforcement action against financial companies in order to streamline its decision-making process.

Victoria's Secret Gets Green Light For UK Liquidation

Victoria's Secret's U.K. business move from administration into liquidation in June was valid, a London judge ruled on Thursday, after concerns were raised over a typographical error on the paperwork.

EX-SFO Official Denies Dishonest Plot To Delete ENRC Emails

A former SFO investigator testified Thursday that he had to "double delete" his emails because the agency lacked storage capacity, denying accusations that he tried to conceal communications with a Dechert attorney running an internal corruption probe into mining giant ENRC.

Three Firms Fined £100M For Overpriced Thyroid Drug

Britain's antitrust watchdog said Thursday it has hit Advanz and two other companies with more than £100 million ($140 million) in fines after finding that the drugmaker had inflated the price of tablets for a thyroid condition by 1,110%.

Financial Services


Insurance


Corporate Crime & Compliance

Commercial Litigation

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!