Digital bank Monzo reveals a loss of £130M on £66M revenue for the year ended Feb. and says UK FCA is investigating it over potential money laundering breaches
Digital lender suffers second ‘going concern’ warning from auditors — The Financial Conduct Authority … Source: Monzo and Monzo .
Financial Times Nicholas Megaw
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Discussion
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@comaware_4s
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The Financial Conduct Authority is investigating Monzo over potential breaches of anti-money laundering laws, as the regulator attempts to crack down on what it sees as widespread weakness in financial crime controls across the UK banking sector. https://www.google.co.uk/...
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NEW: @Monzo saw similar losses to last year, but insisted it would be profitable by 2022 🤔 Its revenues grew 18% to £66m, according to the company's annual report for 2020-21: https://sifted.eu/...