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RBS answering regulator questions about Russia money laundering claims

Published 03/27/2017, 11:10 AM
Updated 03/27/2017, 11:20 AM
© Reuters. A logo of the Royal Bank of Scotland (RBS) is reflected in the window of a branch office in London
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LONDON (Reuters) - Royal Bank of Scotland (L:RBS) said on Monday the Financial Conduct Authority (FCA) and other regulators have requested information about allegations the lender was involved in a global money laundering scheme.

RBS said in a statement that it has responded to the FCA and is in the course of responding to other regulators.

A Reuters report published earlier this month shone light on a Moldovan "Laundromat" probe into an alleged Russian-led money laundering scheme, in which $22.3 billion passed through Moldova using Russian shell companies and fictitious loans from offshore companies based in Britain in 2011-2014.

© Reuters. A logo of the Royal Bank of Scotland (RBS) is reflected in the window of a branch office in London

British lawmakers last week asked the local regulator to investigate claims in newspaper reports that UK banks including RBS, HSBC (L:HSBA), and Standard Chartered (L:STAN) were among those that did not turn away suspicious money transfers.

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