Anti-Financial Crime & Financial Crime Compliance
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Banking, Compliance News, EU/Europe

UK bank Natwest due in court over money laundering failures; FATF chief doubts anyone will go to prison when multi-million-pound compliance probe concludes

One of the top banks in the United Kingdom is facing legal action over failures to properly monitor a customer’s transactions valued in the hundreds of millions.

Despite the scale of the allegations, Financial Action Task Force Executive Secretary David Lewis has weighed in, expressing scepticism that the case will result in prison sentences for anyone.

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