From RT
Britain’s
biggest bank has been fined $350 million for failing to prevent the laundering
of $529 million. Lower-level workers warned upper-level managers, but … You
know, money.
“The court documents show that the company was depositing
over $2 million in cash per day with NatWest at the height of its activity.
There was so much cash that the trash
bags used to transport it to the bank’s branches tore because they were so
heavy. At times the bank’s safes were inadequate to store the amount of
cash being deposited.
“Some of the bank’s employees, who were responsible for
handling those cash deposits, reported their suspicions to bank staff
responsible for investigating suspected money laundering. However, no action
was ever taken.”
Statement by Alison Rose, CEO of NatWest: “We deeply regret that we failed to adequately
monitor one of our customers between 2012 and 2016 for the purpose of
preventing money laundering.” She also said the bank would
continue to invest in fighting financial crime.
https://www.rt.com/business/543170-uk-bank-money-laundering/
Worker to manager: “As you know, we are not authorized to take
cash at this location. However, a gold-trading establishment is bringing in
several millions daily, often in refuse bags.”
Manager: “Okay. I will look into it. We are, after all,
dedicated to fighting financial crime.”
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