- Starling Bank has stated that it accepts responsibility for its mistakes and is working to implement new measures to improve its AML and KYC controls.
- The bank has also announced that it will be increasing its investment in technology and staff to improve its compliance with AML and KYC regulations.
- The fine is significant, as it is the largest ever imposed on a UK digital bank.
- The FCA's actions are also significant, as they mark a shift in the regulator's approach to regulating digital banks.
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