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Evening Standard
Evening Standard
Holly Williams

Monzo fined after customers put Buckingham Palace and No 10 as home addresses

Monzo Buckingham Palace FCA London
Monzo customers will have a 10- to 60-second window, allowing them to cancel a bank transfer if they have made an error (Illia Uriadnikov /Alamy/PA) -

Monzo has been fined more than £21 million over financial crime failures including allowing customers to register accounts to “implausible” addresses such as Buckingham Palace and No 10 Downing Street.

The UK’s financial watchdog said the fine related to failures regarding anti-financial crime measures dating back to between October 2018 and August 2020.

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