The founder of the money transfer service Wise has been fined £350,000 for failing to inform the City regulator that he had failed to pay his taxes.
The Financial Conduct Authority (FCA) said on Monday that the Wise chief executive, Kristo Käärmann, had failed to notify it of a fine from HM Revenue and Customs that resulted in his appearance on a public “name and shame” list of people who had deliberately defaulted on tax payments – alongside a host of takeaway restaurants and sole traders.
