An in-depth analysis of compliance failures at Monzo
Join Shilo Grayson, Regulatory Strategy Specialist at KYC360, for an examination of the operational, cultural and governance failures that led to Monzo receiving a £21 million FCA fine for serious AML breaches.
Drawing on her background in the US national security and intelligence community, Shilo breaks down how illicit finance networks exploit weak controls, what Monzo got wrong at each stage of the customer lifecycle, and why similar structural issues have surfaced at other fast-growth digital banks such as Starling Bank.
Discover how these failures happened, why they persisted, and the practical steps firms can take to scale without repeating the same mistakes.
Date: 27th November 2025
Time: 3:00 - 4:00 pm (UK Time)
In this session, you will learn:
- How Monzo’s lack of address verification and minimal onboarding data created a predictable entry point for criminals.
- The specific deficiencies in CDD, EDD, risk assessment, transaction monitoring and internal oversight.
- How a culture built around frictionless onboarding led to misaligned priorities.
- The practical steps firms can take to grow while strengthening compliance processes.
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