Bank was contractually entitled to close a money service business' account without notice in light of money-laundering suspicions: High Court

In N v The Royal Bank of Scotland Plc [2019] EWHC 1770 (Comm) the High Court has given additional support and protection to firms that terminate customer relationships in view of money laundering suspicions.  This case concerned the application of express discretions in the contract between the Royal Bank of Scotland (the “Bank”) and a money service business; the Court decided that the Bank exercised them honestly, rationally and reasonably.  Insights The decision gives firms relying on contra