One in five fintechs in Ireland send inaccurate returns to regulator

One in four reported deficiencies in safeguarding customers’ funds

Central Bank of Ireland
Donal Murphy Photography/Central Bank of Ireland

The Central Bank of Ireland has written to fintech CEOs after it identified a number of supervisory deficiencies, including comingling of users’ funds and potential inappropriate charges. 

“A lot of these firms come into the regulatory perimeter without previous experience of being subject to regulation,” Sharon Donnery, deputy governor of the Central Bank of Ireland, said in an interview published by the European Central Bank today (February 15). This presents a “difficult challenge”. 

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