RBS answering regulator questions about Russia money laundering claims

LONDON (Reuters) - Royal Bank of Scotland (NYSE: 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.

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

(Reporting By Andrew MacAskill, editing by Anjuli Davies)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Republicans see opportunity in progressives' primary wins while Democrats embrace debate
• Iran says Pakistan's army chief to visit Tehran on Monday
• Iran says new sanctions threatened by 'desperate' US will fail