for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

UK financial watchdog starts criminal action against NatWest on money laundering

LONDON, March 16 (Reuters) - Britain’s financial regulator said on Tuesday it had launched criminal proceedings against a unit of NatWest over offences under money laundering laws.

The Financial Conduct Authority said in a statement that National Westminster Bank Plc’s systems and controls failed to adequately monitor and scrutinise activity over an account held by a UK customer. No individual was being charged, it added.

NatWest will appear at a Westminster magistrates’ court in London next month, the FCA added. (Reporting by Tom Wilson Editing by Rachel Armstrong)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up