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NatWest faces criminal action over money laundering offences. FCA launches criminal action against the former RBS over allegations it failed to detect suspicious activity by a customer who deposited £264 million in cash. via @tomwilson1983 @iainwithers reuters.com/article/us-nat…
Money laundering charges: The FCA alleges NatWest allowed “increasingly large cash deposits” to be paid into a UK-based customer's accounts between November 2011 and October 2016. It's alleged £365m was paid in, including £264m in cash. via @JuliaKollewe theguardian.com/business/2021/…
Prem Sikka suggests the criminal charges against RBS/NatWest could be a ploy to divert attention from FCA's failures, including the fact its former CEO presided over a whitewash of RBS/NatWest GRG after failing to disclose a major conflict-of-interest.
