RBS Training London Police to Deal with Financial Crime Amid Its Own Scandals

The Royal Bank of Scotland will provide the City of London Police with free training to spot and tackle financial crime.

According to a report in the Financial Times, the 81% state owned lender signed an agreement as part of a £400m (€511m, $639m) commitment to deal with its own financial scandals.

While RBS is currently fielding a range of litigation of its own, the FT report states that the new training venture will be kept completely separate from these.

The bank's employees will also not be involved in police operations or advise on information relating to specific investigations, the report said.

RBS has already settled with US and UK authorities over Libor fixing charges, although a number of former employees are still under investigation for their role in the scandal.

The bank is currently being investigated by the Financial Conduct Authority and the US Department of Justice over its alleged role in attempting to manipulate the currency markets.

Both RBS and the police have yet to comment on the FT report.