United Kingdom: FCA Investigation into CB Payments Limited for allegedly breaching the voluntary requirement on financial crime control framework
Progress
Current status
in force
23 Jul 2024 in force
Scope
Implementers
United Kingdom
Policy Area
Consumer protection
Policy Instrument
User identification requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
Issued ruling in FCA Investigation into CB Payments Limited for breaching the voluntary requirement on financial crime control framework
On 23 July 2024, the Financial Conduct Authority (FCA) issued a ruling with a fine of around GBP 3.5 million against CB Payments Limited (CBPL) for ineffective financial crime control framework. CBPL is an authorised electronic money Institution wit…
SourceEvent type
investigation
Action type
ruling
Government branch
executive
Government body
other regulatory body