Bank fined after outsourcing faults led to improper money transfers and exposure to financial risk –

Posted December 3rd, 2015 in banking, financial regulation, fines, news by tracey

‘The Prudential Regulatory Authority (PRA) has fined a bank more than £1 million after finding that faults with its outsourcing arrangements helped rogue employees at a third party service provider to move money out of its bank accounts without its knowledge or consent and put the bank’s own financial health at risk.’

Full story, 2nd December 2015