Of particular note is the FCA's announcement on 16 March 2021 relating to criminal proceedings against the majority government-owned bank, NatWest, for breaches of the Money Laundering Regulations 2007 during 2011-16. The FCA commenced its investigation into NatWest in 2017 and alleges that NatWest failed to conduct risk-sensitive due diligence and ongoing monitoring of its relationships with its customers for the purposes of preventing money laundering, allowing £264 million to be paid via cash into customer accounts. NatWest is due to appear in court on 14 April 2021.