NatWest money laundering case linked to second criminal trial, prosecutors say
Iain Withers, 19 March 2021
LONDON (Reuters) – Criminal money laundering charges against British state-backed bank NatWest are linked to a separate case against 13 individuals based in cities across the country, prosecutors have told Reuters.
Britain’s financial regulator, the Financial Conduct Authority (FCA), started a criminal action against NatWest on Tuesday, making it the first bank to be charged under a 2007 money laundering law.
The FCA accused NatWest of failing to monitor suspect activity by a client that deposited about 365 million pounds($500 million) in its accounts over five years, of which 264 million was in cash.
