Nationwide fined £44m for 'ineffective' crime controls

Published: 12/12/2025
Nationwide fined £44m for 'ineffective' crime controls
Nationwide fined £44m for 'ineffective' crime controls by the Financial Conduct Authority. The building society missed detecting fraudulent Covid furlough payments and had inadequate risk assessment systems. Customers using personal accounts for business were not properly monitored for money laundering risks. Nationwide has since improved its crime control systems after acknowledging the shortcomings.