Author: Azizur Rahman 13 December 2021
With NatWest being fined £265 million for money laundering failings, Aziz Rahman said that the effect would be felt across the financial world.
He emphasised that the fine highlighted the price that has to be paid if a corporate does not meet its money laundering obligations. In a statement, he said that the fact that the Financial Conduct Authority had brought a criminal prosecution instead of imposing regulatory sanctions showed how serious NatWest’s failings were.
Aziz saw the case as an indicator that the FCA is prepared to be more aggressive when it feels it should be, and that other financial institutions need to ensure they are not the next to face such action. He described the case as “a headline-grabbing reminder of the importance of complying with money laundering obligations’’.
Aziz Rahman is Senior Partner at Rahman Ravelli and its founder. His ability to coordinate national, international and multi-agency defences has led to success in some of the most significant corporate crime cases of this century and top rankings in international legal guides. He is recognised worldwide as one of the most capable legal experts regarding top-level, high-value commercial and financial disputes.