UK PSR fines Bank of Ireland £3.78M for failing to implement Confirmation of Payee on time, leaving £6.9B in payments and 1.14M payees exposed to fraud, flagging the risk of delayed anti-fraud measures

by | Feb 20, 2026

The bank missed the regulatory deadline by over a year, leaving approximately 1.14 million new payees and around £6.9 billion in payment activity without this fraud protection. CoP is crucial in preventing authorised push payment (APP) fraud and mis‑directed payments,...

OFSI publishes updated Financial Sanctions Enforcement and Monetary Penalties Guidance, streamlining compliance, penalty, and appeal processes while boosting transparency and deterring future breaches

by | Feb 9, 2026

Key proposals included introducing a new case assessment framework, clearer guidance on how cases are evaluated, enhanced penalty discount schemes for voluntary disclosure and cooperation, a civil settlement scheme to resolve cases more efficiently, an Early Account...