Interesting story here
So the UK government, who is the majority holder, allowed this and they’re going to give a fine to themselves
Luckily when I had a NatWest account I only paid in £100m in cash!!
@dudesuper1982 you’re a 🥷
The UK is a laundering hub, from boiler plates in Scotland to the non-enforcement at Companies House etc etc. If anything, I’d be hugely surprised if a major institution didn’t have a case like this
Unfortunate for them that this is happening just months after they abandoned the RBS name in a bid to shake off the negative connotations associated with the brand after the financial crash. Now the new NatWest Group is tarred with money laundering.
I don’t think it’s really tarred, every big bank here has some negative stigma; HSBC are terrorist funders, Barclays scandal comes up with results but I guess I’m not really aware of it, Lloyd’s got massively screwed for PPI
Every bank has bad press. It’s just the nature of what happens when most of the country requires a bank account
They allowed a lot of money laundering that made its way to terrorists iirc
And off to Court we go …
To be fair, even terrorists need bank accounts. Most large international banks likely could be called terrorist funders.