NatWest, part of NatWest Group, pleaded guilty in October to three offences of failing to comply with anti-money-laundering regulations. The court heard 700,000 Pounds was paid into the Walsall branch in a single day. The court heard NatWest recorded direct cash deposits as cheque deposits between 2008 and March 2017 on the bank's automatic monitoring system, affecting about 165m Pounds in payments from Fowler Oldfield. The court heard NatWest has invested 700m Pounds to tackle financial crime with another £1bn earmarked over the next five years. Credit:The post; Natwest Fined 264m Pounds After Taking Deposits of Laundered Cash in Bin Bags first appeared in TheGuardian.com on December 13, 2021.

Source: The Guardian December 15, 2021 17:51 UTC