Analysis

AML Compliance Takes Center Stage In NatWest Case

By Richard Crump (October 6, 2021, 5:09 PM BST) -- NatWest will face court on Thursday in the first criminal prosecution in Britain against a financial services institution under anti-money laundering rules, in a case poised to set the bar for how authorities pursue companies — and the penalties that will result.

The charges against NatWest are the first to be brought under the Money Laundering Regulations of 2007 for failure to comply with requirements to safeguard against money laundering. (iStock) The Financial Conduct Authority charged NatWest in March over the bank's alleged failure to monitor a corporate customer registered in Britain that deposited £365 million ($495 million) into an account...

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