NatWest fined £265m after bin bags of cash laundered

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The state-backed bank had pleaded guilty to failing to prevent money-laundering of nearly £400m. …

One rule designed to flag suspicious activity was disabled by the bank because it created too many alerts, “so the bank decided it should be deactivated”, Ms Montgomery added, while NatWest also recorded cash deposits by Fowler Oldfield as cheques between 2008 and March 2017.

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