CEO of Revolut denied information about violation of anti-money laundering legislation by his company
Nick Storonsky, CEO of British digital bank Revolut, considers the accusations of his company in violation of the requirements of anti-money laundering legislation unfounded. He wrote about this on the Revolut blog last week..
On February 28, The Telegraph published an article according to which the shutdown of the system for preventing illegal money transfers could lead to the passage of thousands of potentially suspicious transactions through the Revolut system. “Misleading information has been published in the media about our compliance procedures,” Storonskiy commented..
“Legal and regulatory requirements were not violated at this time. We carefully studied all the transactions carried out at this time, and did not reveal any violations, – he added. – Unfortunately, this fact was not included in the news release. The system shutdown did not violate anti-money laundering laws, so we did not send an official notice to the regulator. “.
Storyskiy’s statement was later included in the original article by The Telegraph: “We ran the improved system in parallel with the existing one. The new system was not configured according to the standards we expected, so we reverted to the processes in place at the time while the configuration was being completed. “.
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