Prince Charles at Royal Ascot.Photo: Chris Jackson/Getty Images

Prince Charles, Prince of Wales smiles as he attends Royal Ascot 2022

Prince Charlesis reacting to reports that heaccepted almost $3 million in cashfrom the former prime minister of Qatar for one of his charities.

A royal source announced Wednesday that the Prince of Wales, 73, would never again accept a large cash donation on behalf of his charities after it was reported that he accepted large sums from Sheikh Hamad bin Jasseim bin Jaber Al Thani as a donation to Charles' Prince of Wales Charitable Fund, which gives grants to other non-profit groups that reflect the prince’s interests.

The source at the palace said that donations had not been made like that in the last five years —and “wouldn’t happen today” — and noted thatPrince Charlespassed the money onto his charities.

“They followed the right processes and auditors looked at it,” the source said.

Prince Charles.Chris Jackson - Pool/Getty Images

Prince Charles, Prince of Wales smiles as he departs the CHOGM opening ceremony at Kigali Convention Centre

Charles’s office at Clarence House said in a statement on Monday: “Charitable donations received from Sheikh Hamad bin Jassim were passed immediately to one of the Prince’s charities who carried out the appropriate governance and have assured us that all the correct processes were followed.”

It is not illegal for charities to accept donations in cash, however, the regulator of non-profits in the U.K.recommends that a series of checksfor due diligence is carried out when accepting donations.

Camilla, Duchess of Cornwall and Prince Charles, Prince of Wales attend a reception to celebrate the British Asian Trust at the British Museum

The scandal comes just months after another one of Charles’s charities,The Prince’s Foundation— which is not connected to his Charitable Fund — was caught up in cash for official honors allegations. The Metropolitan Police has launched an investigation and the head of the Foundation, Michael Fawcett,stepped down in Novemberamid the inquiry.

Can’t get enough ofPEOPLE’s Royals coverage?Sign up for our free Royals newsletterto get the latest updates onKate Middleton, Meghan Markle and more!

source: people.com