NatWest Fined £264M Over AML Oversight Failings

By Christopher Crosby (December 13, 2021, 3:40 PM GMT) -- A London judge fined NatWest £264 million ($350 million) on Monday after the bank became the first lender to plead guilty to criminal charges for violating anti-money laundering laws in connection with a gold dealership.

A Crown Court has imposed the fine on NatWest for its failure to comply with laws after a commodities trader deposited £365 million, mostly in cash, over five years. (AP Photo/Kirsty Wigglesworth) Judge Sara Cockerill imposed the fine on the bank at Southwark Crown Court for its failure to comply with laws after a regional commodities trader deposited £365 million ($483 million) — mostly in cash — over five years. 

"Moreover, it must...

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