NatWest fined £264m in landmark criminal money laundering case

Mark Battersby
clock • 2 min read

NatWest Group was fined £264.7m at Southwark Crown Court in London yesterday (13 December) after pleading guilty to failing to prevent money laundering in the first criminal case of its kind against a British bank. In a case involving hundreds of thousands of pounds being couriered in black garbage bags and branch vaults overflowing with banknotes, the bank admitted to three criminal charges in October, accepting that it failed to prevent money laundering at an English gold dealer. NatWest took in about £365m in deposits, more than two-thirds of which was in cash, across about 50 bra...

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