Does Revolut break the rules?
29.07.2024
Does Revolut break the rules?
The European Central Bank (hereinafter, the ECB) requires Revolut Ltd. to improve control over financial crimes after the audit.
The ECB, which took over direct supervision of Revolut Holdings Europe AB's subsidiary in the European Union earlier this year, is conducting a thorough assessment of this unit. The regulator has already identified a number of shortcomings in the control system and insists on improving it.
Link to the source: https://www.bloomberg.com/news/articles/2024-07-19/ecb-is-pushing-uk-fintech-revolut-to-bolster-eu-bank-controls-amid-review?srnd=phx-industries
The European Central Bank (hereinafter, the ECB) requires Revolut Ltd. to improve control over financial crimes after the audit.
The ECB, which took over direct supervision of Revolut Holdings Europe AB's subsidiary in the European Union earlier this year, is conducting a thorough assessment of this unit. The regulator has already identified a number of shortcomings in the control system and insists on improving it.
Link to the source: https://www.bloomberg.com/news/articles/2024-07-19/ecb-is-pushing-uk-fintech-revolut-to-bolster-eu-bank-controls-amid-review?srnd=phx-industries
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