FCA secures guilty plea in first prosecution under the Money Laundering Regulations 2007

On October 7, 2021, National Westminster Bank Plc (NatWest), a retail and commercial bank headquartered in London, pleaded guilty in Westminster Magistrates’ Court to criminal violations of the Money Laundering Regulations 2007,* following the filing of charges in March 2021.   Specifically, the bank accepted responsibility for failing to comply with regulations 8(1), 8(3), and 14(1) during periods between November 2012 and June 2016.  No individuals have been charged in connection with NatWest’s offenses.

______________________

*The Money Laundering Regulations 2007 were superseded by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

FCA press release 

You are currently offline.