NatWest Bank fined over £264 Million

NatWest Bank was sentenced today to a fine of £264,772,619.95 by Mrs Justice Cockerill sitting at Southwark Crown Court.

The fine was imposed following NatWest’s guilty plea to three counts of breaches of the Money Laundering Regulations 2007 in relation to transactions amounting to over £365 million.

The fine is the largest financial penalty ever imposed upon criminal conviction in England and Wales. The prosecution brought by the FCA is the first time a bank has been prosecuted for such offences.

Matthew Butt QC and Thomas Bushnell appeared for the prosecution along with Clare Montgomery QC of Matrix Chambers.

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13th December 2021