Coinbase (COIN) Unit CBPL Fined $4.5M by UK’s FCA for Money Laundering Lapses, Serving High-Risk Customers

“Despite the restrictions in place, CBPL onboarded and/or provided e-money services to 13,416 high-risk customers,” the FCA said in a release on Thursday. “Approximately 31 per cent of these customers deposited around USD $24.9 million. These funds were used to make withdrawals and then execute multiple cryptoasset transactions via other Coinbase Group entities, totalling approximately USD $226 million.”

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