Author: Syedur Rahman 17 March 2021
The Financial Conduct Authority has brought criminal charges against NatWest bank for alleged money laundering failings.
With the charges being the first time the FCA has brought a criminal prosecution under the 2017 Money Laundering Regulations, The Wall Street Journal asked Rahman Ravelli’s Syed Rahman for his thoughts on the case.
The FCA has alleged that NatWest failed to maintain adequate and effective anti-money-laundering controls.
Syed told the Journal that the FCA’s decision to bring criminal proceedings rather than seek a civil settlement or offer a deferred prosecution agreement could be seen as significant. He called it “an important benchmark that shows that no one is too big to escape the FCA’’.
NatWest is scheduled to appear at Westminster Magistrates Court on 14 April. No individuals are being charged as part of the proceedings.
Syed's comments featured in The Wall Street Journal.
Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, international arbitration, civil recovery, cryptocurrency and high-stakes commercial disputes.