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Monzo revealed the investigation in its latest annual report, which also showed the six-year-old bank kept losses stable in its last financial year despite taking a heavy hit at the start of the pandemic.
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The bank said: “The prevention of financial crime is an issue that affects the entire banking industry and one which Monzo is taking extremely seriously. Over the past year we have made major investments in our controls in this area as a priority and will continue to invest heavily in this part of the business.”
https://www.ft.com/content/3b3281ef-f992-44c8-9afe-fdd507f6e80f
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