00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post. Here
00:07is some breaking business news.
00:09Starling Bank has been fined £29 million by the UK's financial watchdog for failings
00:15over its financial crime screenings, which the regulator described as shockingly lax.
00:22The Financial Conduct Authority said the bank left the financial system wide open to criminals
00:28and those subject to sanctions.
00:31Starling said it accepts that failings took place between December 2019 and November 2023.
00:39The bank said it has introduced extensive additional safeguards to ensure it complies
00:44with regulatory requirements.
00:47The Chairman, David Spruill, apologised for the failings outlined by the FCA.
00:53My name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
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