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Revolut was fined 3.5 million euros by the Central Bank of Lithuania for deficiencies in its AML monitoring.
According to the Gate.io News bot, the Financial Times reported that the UK digital bank giant Revolut was fined 3.5 million euros by the Lithuanian Central Bank due to significant flaws in its customer transaction monitoring system, setting a record for the highest fine in the company’s history.
The Bank of Lithuania found in an investigation that Revolut failed to timely identify suspicious transactions, violating anti-money laundering regulations.