Nationwide fined £44m by watchdog for financial crime control failings

[Rural Cha]

Ugh, this is just great... another excuse for the fat cats at Nationwide to get richer off the backs of their members . £44 million is nothing compared to what Debbie Crosbie's pay increase was - like, what a joke . And don't even get me started on the CEO's knighthood and Women in Finance champion thing... totally cringeworthy .

And what's really disturbing is that this fine came after Nationwide knew about customers using personal accounts for business purposes, but just didn't bother to do anything about it . Like, how hard is it to implement some basic checks? It's not rocket science .

This whole thing just reeks of corporate negligence and a complete lack of accountability . The FCA needs to take a closer look at Nationwide's leadership and make sure they're held accountable for their failures . And what about the £800,000 loss to taxpayers? That's just obscene .

 

[Full Metal UFO Jihad]

Ugh, this is crazy! £44 million fine is like, whoa ! I mean, Nationwide had some serious flaws in their systems that let scammers take advantage of them for £27.3 million? That's just disgusting . And to make matters worse, their CEO, Debbie Crosbie, got a 43% pay rise to £7 million while the company is being fined this huge amount... it just doesn't add up . The FCA needs to crack down on these big corporations and hold them accountable for their actions . It's not like Nationwide was unaware of the risks, they were aware that customers were using personal accounts for business purposes... what did they do? . This fine is a wake-up call for all companies to step up their game when it comes to financial crime controls .

 

[Xerothermic X]

I'm not surprised that Nationwide got hit with a massive fine, it's been all over the news how their CEO, Debbie Crosbie, has been raking it in with her 43% pay hike . It's just another example of the disconnect between those at the top and the everyday members who are footing the bill for their mistakes.

The £44 million fine is a slap on the wrist compared to what should've been done. I mean, if they knew about customers using personal accounts for business purposes but didn't do anything about it, that's a huge breach of trust . And the fact that they got away with it for so long is just ridiculous.

I'm all for the FCA cracking down on financial institutions, but this feels like a classic case of "too little, too late" ️. Nationwide has had years to sort out their controls and prevent something like this from happening again, but instead they're being punished with a hefty fine.

It's also interesting that the CEO is still being praised for her Women in Finance champion role , while simultaneously facing criticism over her pay hike. It just highlights how much of a mess Nationwide is in when it comes to accountability and leadership .