natwest

NatWest has been fined $350.9 million for failing to prevent the laundering of nearly $528 million, capping the first criminal money laundering case against a British bank.

NatWest has been fined £265 million ($350.9 million) for failing to prevent the laundering of nearly £400 million, in the first criminal money laundering case against a British bank.

A unit of NatWest Group on Tuesday agreed to pay about $35 million and pleaded guilty to wire and securities fraud in relation to a long-running scheme by some of its traders to manipulate US Treasury debt markets.

The money was sent to Brits with Barclays, HSBC, NatWest, Co-operative Bank and Virgin Money accounts.

The 41-year-old princess met with key representatives from nine major companies -- including Lego and Ikea -- at the HQ of UK bank NatWest.