Legal News

What the Natwest case tells us about AML liability

Published on: 11 November 2021
Published by: Law360
  • What the Natwest case tells us about AML liability
  • The obligations of banks
  • Failure to prevent....what?
  • Questionable deposits
  • Policy choices and opt-outs
  • Sanctions—a comparison
  • Getting tough
  • Bribery—another comparison
  • No cause for complacency

Article summary

Law360, Expert analysis: One of the UK’s big four banks, Natwest plc, pleaded guilty on 7 October 2021 to breaches of the Money Laundering Regulations 2007 (MLR 2007), but what does that mean? Some of the headlines certainly seem to suggest a clear meaning, and this is indeed the first prosecution by the Financial Conduct Authority (FCA) under money laundering regulations. And yet, for those who follow the glacial development of UK prosecutors’ attempts to change the basis for corporate entities’ liability for economic crimes, this would seem an incongruous result—hinting, perhaps, that the laws they seek are already on the statute book, considers John Binns of BCL Solicitors LLP. or take a trial to read the full analysis.

Popular documents