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Monzo facing FCA investigation over possible flouting of money laundering laws
Monzo facing FCA investigation over possible flouting of money laundering laws

FinTech company Monzo is facing a Financial Conduct Authority investigation over allegations it may have flouted anti-money laundering laws. However, in its annual report, Monzo credits its growth over the past year to its ability to minimise losses despite the challenges of the Covid-19 pandemic.

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Downing Street hints state pension ‘triple lock’ could be tweaked to ensure fairness: This week’s news roundup

This week has seen the government hint the state pension triple lock could be watered down, predictions the zero-emissions target could see household bills soar, and news that Tesco Bank is closing all current accounts.

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Covid isolation rules will no longer apply to food workers

It has been announced that food workers in the UK will be exempt from Covid isolation rules as the government tries to tackle potential food shortages. Product availability has become an issue as more supermarket depot workers and food manufacturers are forced to self-isolate. However, the government now says these workers can do daily tests regardless of their vaccination status.

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Shoppers urged not to panic buy in supermarkets

The boss of frozen supermarket giant Iceland has urged shoppers not to start panic buying. He admitted that while there were some problems with staffing and availability issues, photos of empty shelves that have recently emerged are ‘isolated incidents,' and shoppers should not feel pressured to start panic buying.

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Half of pandemic buyers regret overpaying for their new homes

A recent survey has shown that half of those who bought a new home during the pandemic regret overpaying for their properties. In addition, figures show nearly a quarter of homebuyers paid over the asking price during the pandemic, with many rushing into the property purchase.

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FCA takes action against debt packager firms

Following an FCA review of the practices of debt packager firms, 5 firms have stopped providing regulated debt advice until further notice and the FCA has used formal powers to stop another firm from providing regulated advice.

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Power of attorney system set for modernisation

Power of attorney can be a helpful tool in later life if you struggle to manage your finances or other aspects of your life. While the current legal process for enacting power of attorney can be long-winded and frustrating, plans have been put forward to modernise the system.

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