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Violation Tracker UK Individual Case

Company: Coutts & Company
Current Parent CompanyNatWest Group PLC
Parent at the Time of the Penalty Announcement: NatWest Group PLC
Recap of Ownership Changes: RBS Group changed its name to NatWest Group in 2020
Penalty: £8,750,000
Year: 2012
Date: 26 March, 2012
Offence Group: financial offences
Offence Type: anti-money-laundering deficiencies
Violation Description: Coutts paid an £8.75 million fine in settlement of a finding by the FSA that the company did not establish and maintain effective anti-money laundering systems when dealing with high-risk customers.
Action Type: agency action
Settlement Type: settlement of FSA Decision
Agency: Financial Services Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Source of Data(click here)