(Bloomberg) -- Revolut Ltd is in talks with the UK’s Financial Conduct Authority on alleged failures that allowed money to be released from accounts seen as suspicious by the National Crime Agency, the Financial Times reported.

The issues, which occurred in July and August, would have allowed up to £1.7 million ($2.1 million) to be released from the flagged accounts, the FT said, citing two people familiar with the situation who weren’t identified.

Revolut, the NCA and FCA declined to comment to the newspaper. 

The talks with FCA come as the London-headquartered fintech company awaits news on its application for a UK banking license filed in January 2021.

Read more: Revolut Delays Filing Full-Year Results for Second Time in a Row

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