Building Society Confirms if Swindon Branch Will Stay Open

Building society confirms if Swindon branch will stay open

Nationwide Building Society has confirmed that it will be keeping all of its branches open until at least the start of 2030.

Nationwide fined £44m over failings in financial crime controls - Credit Connect

Nationwide Building Society has been fined £44 million by the Financial Conduct Authority (FCA) for failing to manage financial crime risks from October 2016 to July 2021. The FCA found that Nationwide lacked adequate anti-financial crime systems, allowing customers to misuse personal accounts for business activities. This oversight led to missed opportunities in detecting £27.3m in fraudulent pandemic-related furlough payments. Therese Chambers…

Nationwide fined £44m by FCA for AML failures

Nationwide Building Society has been fined £44 million by the Financial Conduct Authority (FCA) for “inadequate anti-financial crime systems and controls between October 2016 to July 2021.” The financial regulator said the building society had “ineffective systems for keeping up-to-date due diligence and risk assessments for all its personal current account customers and for monitoring their transactions” during the period. In one case, the FCA …

Nationwide fined £44m by the FCA for AML failures

Nationwide fined £44m by the FCA for AML failures: Nationwide Building Society has been fined £44 million by the Financial Conduct Authority (FCA) for "inadequate anti-financial crime systems and controls b

Nationwide Fined £44m by FCA After Covid Furlough Fraud Exposed AML Control Failings

Nationwide Building Society is facing intense scrutiny after the UK’s Financial Conduct Authority (FCA) imposed a £44m penalty over weaknesses in its financial crime controls—failures that regulators say contributed to red flags being missed in a major Covid furlough fraud case. FCA+1 Coverage continued on Sunday, 14 December, with fresh summaries of the case highlighting the building society’s Swindon base and the regulator’s view that Nationwi…