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Violation Tracker UK Individual Case

Company: R. Raphael & Sons plc
Penalty: £775,100
Year: 2019
Date: 29 May, 2019
Offence Group: financial offences
Offence Type: banking violation
Violation Description: Raphaels paid a total of £1,887,252 to the FCA and PRA in settlement of a finding by the FCA that the company failed to adequately manage its outsourcing arrangements thus exposing customers to unnecessary harm and inconvenience, when its third party card transaction provider suffered a failure that left customers unable to use their prepaid cards and charge cards.
Action Type: agency action
Settlement Type: settlement of FCA Decision
Agency: Financial Conduct Authority
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