Tag: NatWest

A group of major financial institutions has launched a nationwide initiative to bolster operational resilience in the UK’s financial sector, partnering with FinTech Scotland...

A new report by Payit, the Open Banking payment service from NatWest, reveals that 42% of UK businesses are considering the adoption of Open...

In an innovative attempt to combat the surge in purchase scams during the festive season, NatWest has introduced the 'Scamvent' calendar, a clever twist on the traditional advent calendar aimed at educating consumers about the dangers of online shopping fraud.

NatWest has taken a significant step in the digital banking sector by becoming the first UK bank to implement a bank-verified digital identity system.

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.