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Nationwide Building Society fined £44.1M by FCA

Amount
£44,078,500
≈ $59M at the notice date
Regulator
FCA
Financial Conduct Authority
Date
Country
United Kingdom
Bank

What happened

This Final Notice refers to breaches of Principle 3, and associated breaches of SYSC rules 6.1.1R and 6.3.1R pursuant to section 206 of the Act. We imposed a financial penalty.

Violations

AML program failures

Controls that catch this

  • Transaction Monitoring: scenario coverage, alert review and SAR workflow
  • Customer risk assessment that blocks or escalates high-risk onboarding
  • Case management with an audit trail for every decision

Sources

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Related fines

14 Jul 2025 Barclays Bank plc FCA £39,314,700
14 Jul 2025 Barclays Bank UK plc FCA £3,093,600

Figures and summaries come from the regulator's published notice or, where noted, press reports. Penalties can be reduced, appealed or combined with other agencies' actions. Last reviewed by our compliance team: 27 Oct 2026.

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