The Bradford Laundromat was raided on 9th September 2021 by the West Yorkshire Police Economic Crime Unit, shutting down the cash for gold and jewellery business of Fowler Oldfield a business that had operated in the City of Bradford in the UK for more than a 100 years. Fowler & Oldfield had washed hundreds of millions of pounds in suspected UK illegal drug and other illicit proceeds through its Nat West Bradford commercial bank account.
This week Nat West Bank was fined £265 million for AML breaches and next year those involved with Fowler Oldfield will stand trial on money laundering charges. It is therefore a good time to take stock and look at what happened at Fowler Oldfield, including those arrested, at Nat West, the FCA investigation and fine, and some key Takeaways.
With all the criticism that has come Nat West’s way due to is failures in this case, lets not forget to give credit where its due to those in Law Enforcement, that identified and took action targeting serious and organised crime and money laundering and putting the Bradford Laundromat out of action.
For a copy of the FCN In Depth Intelligence Briefing click HERE: The Bradford Laundromat 2021
