UK: NatWest PLEADS GUILTY TO MONEY LAUNDERING FAILINGS

On 7 October, Yahoo News and others reported that the NatWest bank had pleaded guilty to failing to prevent the laundering of nearly £400 million and faces a heavy fine after becoming the first bank in Britain to admit to such a criminal offence.  The bank, which is 55% taxpayer owned after a state bailout following the 2008 financial crisis, indicated in court a guilty plea to 3 charges of not adequately monitoring customer accounts between 2012 and 2016.

https://finance.yahoo.com/news/1-natwest-pleads-guilty-money-092558348.html

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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