Anti-Financial Crime & Financial Crime Compliance
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Banking, EU/Europe, Financial Services

Major British bank Natwest to maintain dramatically reduced limit for online money transfers, saying early indications are that it is ‘helping to reduce fraud’

By Dan Byrne for AMLi

The Natwest Banking Group and its subsidiaries have sharply reduced the limit for digital transfers as part of efforts to crack down on fraud.

The British bank will no longer allow transfers that total more than £5,000 in a single day – down from a previous limit of £20,000.

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