Tag: NatWest

Revolut, a global financial superapp serving over 35 million customers, has significantly expanded its Financial Crime (FinCrime) division, doubling the headcount since 2021.

As another challenging year comes to an end, the task for organisations to remain compliant in new working environments is still ongoing. Despite firm efforts by many to avoid penalties, some institutions were unable to duck fines last year. Here are the top five compliance failure fines from the year of 2021.

The Financial Conduct Authority (FCA) has fined HSBC Bank £63,946,800 for failings related to its anti-money laundering processes.

National Westminster Bank (NatWest) has been fined £264m for three accounts of money laundering failures.

NatWest has pleaded guilty to money laundering failings amounting to £365m from UK-based jeweller Fowler Oldfield.

NatWest is now allowing customers to establish their own daily digital bank transfer limits to reduce the impact caused by authorised push payment (APP) scams.

UK retail bank NatWest will not accept payments in cryptocurrencies, according to the company’s head of risk Morten Friis.

The Financial Conduct Authority (FCA) has begun criminal proceedings against banking giant NatWest Group PLC alleging that the company failed to follow anti-money-laundering regulations.

Challenger banks Monzo and Starling Bank led the list that provided the best service among the UK's 19 largest personal account providers, according to new research from British regulators.

Crime prevention software developer Featurespace has been enlisted by NatWest to protect the bank's customers against fraud.