Thursday, May 26News That Matters
Shadow

Tag: NatWest

NatWest faces criminal proceedings over money laundering regulations

NatWest faces criminal proceedings over money laundering regulations

Business
The City watchdog has launched criminal proceedings against bank NatWest for allegedly failing to comply with money laundering rules.NatWest is accused by the Financial Conduct Authority (FCA) of failing to adhere to the regulations between November 2011 and October 2016. The case relates to the handling of funds from a single UK incorporated customer of the bank - which has not been named. Image: Proceedings are being brought by the Financial Conduct Authority NatWest is a subsidiary of state-backed NatWest group, previously known as Royal Bank of Scotland (RBS).The FCA said in a statement: "The case arises from the handling of funds deposited into accounts operated by a UK incorporated customer of NatWest. ...