Tuesday, December 14, 2021

Advice To NatWest

When a client deposits large sums of money in bin bags, that really ought to set the alarm bells ringing!

As per BBC:

NatWest has been fined £265m after admitting it failed to prevent money-laundering of nearly £400m by one firm.

A gold trading business suspected of money-laundering deposited £700,000 in cash into one NatWest branch in black bin bags, a court heard on Monday.

A criminal gang deposited huge sums of cash across about 50 branches, prosecutors for the UK's financial watchdog said.

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