UK’s FCA lays first-ever criminal charges of money laundering
Regulators charge NatWest with failing to monitor transactions; bank faces unlimited fine
The UK’s Financial Conduct Authority is pressing criminal charges of alleged money laundering against a firm for the first time, it announced today (March 16).
The FCA said it was bringing the charges against NatWest Bank, one of the country’s biggest commercial lenders, under the UK’s 2007 Money Laundering Regulations. Lawyers from the FCA and NatWest will appear in a London magistrates’ court on April 14 for an initial hearing on the case.
The case is the first time that the FCA has used the
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