Breaking: Coinbase UK Arm Faces $4.5M Fine For Onboarding High-Risk Customers

The United Kingdom regulators have imposed a $4.5 million (£3.5 million) fine on Coinbase’s UK arm, CB Payments Limited (CBPL). The penalty concerns the breach of a voluntary agreement designed to prevent the onboarding of high-risk customers. The U.K.’s Financial Conduct Authority (FCA) announced the fine on Thursday, citing significant weaknesses in CBPL’s control mechanisms. The post Breaking: Coinbase UK Arm Faces $4.5M Fine For Onboarding High-Risk Customers appeared first on CoinGape .

Source: CoinGape