People maintain social distance while they queue outside a Natwest bank as the spread of Covid-19 continues, in London March 26, 2020. — Reuters picLONDON, March 16 — Britain’s financial regulator today said it had launched criminal action against UK state-owned NatWest banking group over allegations of money laundering.
“It is alleged that NatWest’s systems and controls failed to adequately monitor and scrutinise this activity,” it added. “NatWest Group takes extremely seriously its responsibility to seek to prevent money laundering by third parties and accordingly has made significant, multi-year investments in its financial crime systems and controls,” the lender added in a statement.
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