Bags of Cash: NatWest Fined $351 Million Over Money Laundering

People maintain social distance while they queue outside a Natwest bank in Wimbledon, following the outbreak of the coronavirus disease (COVID-19), London, Britain, on May 1, 2020. Hannah McKay/Reuters

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

The fine would have been north of 300 million pounds, but a deduction was made for the bank’s guilty plea, the judge said.