NatWest Hit with U.K. Criminal Charges in Money-Laundering Case
The FCA requires companies to regularly conduct risk-based due diligence as well as monitor their relationships with customers. The FCA alleges that NatWest’s systems failed to effectively oversee and scrutinize customer activity. The FCA’s criminal charges illustrate the authority’s intent to crack down on money-laundering, which usually leads only to civil settlements. NatWest is expected to appear at Westminster Magistrates’ Court next month to face the charges.
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