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Nationwide fined £44m for inadequate financial crime controls

Branch of Nationwide in Cheapside
Photo: Getty Images

One of the largest fines of 2025 comes after building society declared itself to the FCA.

The UK’s FCA has fined Nationwide £44m ($58.8m), saying the building society had “ineffective systems for keeping up-to-date due diligence and risk assessments for all its personal current account customers,” rendering it unable to properly monitor transactions between October 2016 and July 2021.

Nationwide did not offer business current accounts at this

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