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Judge adds 15% uplift and £4m FCA costs to NatWest AML fine

Compliance Monitor

Judge adds 15% uplift and £4m FCA costs to NatWest AML fine

The FCA’s first criminal prosecution under the Money Laundering Regulations 2007 has resulted in a £265 million fine for NatWest and £4.3m for the regulator’s costs. Mrs Justice Cockerill delivered the sentence at Southwark Crown Court, taking into account the bank’s profits and saying that “a very considerable fine” was needed to make the sentence “meaningful”.

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