About: http://data.cimple.eu/news-article/b5bd4dbbc60ffc9db981109bd48766dda77b202613de095a32448484

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About: http://data.cimple.eu/news-article/b5bd4dbbc60ffc9db981109bd48766dda77b202613de095a32448484 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Britain's financial regulator on Tuesday said it had launched criminal action against UK state-owned NatWest banking group over allegations of money laundering. A Financial Conduct Authority statement said it had launched proceedings for the alleged failure to prevent the risk of money laundering over a near five-year period to October 2016. It marks the first time that the FCA has taken such action against a bank. The FCA has acted after about £365 million ($508 million, 425 million euros) was paid into a customer's account -- including £264 million in cash. "It is alleged that NatWest's systems and controls failed to adequately monitor and scrutinise this activity," it added. NatWest, formerly known as the Royal Bank of Scotland, said it had cooperated fully since first being informed in July 2017 of the alleged incident. "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. No individuals are being charged under the proceedings but NatWest is scheduled to appear before a London court in April. NatWest, which changed its name last year, remains majority-owned by the UK government after the world's biggest banking bailout amid the 2008 global financial crisis. rfj/bcp/wai
schema:headline	UK acts against NatWest bank over alleged laundering
schema:mentions	Money laundering Bailout Scotland Court London United Kingdom NatWest Financial Conduct Authority Financial crisis of 2007–2008
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-03-16 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	82 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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