The Financial Conduct Authority (FCA) is prosecuting National Westminster (NatWest) Bank for inadequate due-diligence checks on a British corporate jeweller and gold dealer whose account received a series of cash payments amounting to GBP264 million between 11 November 2011 and 19 October 2016. It is the first prosecution of a bank under the Money Laundering Regulations 2007, and follows the conclusion of a money-laundering investigation and prosecution of the customer in 2019.
News Source：【 FCA 2021/03/16】