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Natwest fined £265m for anti-money laundering failures

Nick Barnard, senior associate at Corker Binning, said the fine would serve as a benchmark for future anti-money laundering prosecutions against similar large financial institutions. 

The fine to pay by Natwest reflected a discount for the guilty plea and would have otherwise been £397m. 

“The magnitude of the penalty is comparable to those seen in some Deferred Prosecution Agreements as agreed by the Serious Fraud Office in cases of serious fraud and corruption, and so will be seen as a major achievement for the Financial Conduct Authority in its role as a prosecutor,” he said.

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