Prosecutors said they believe that ABN Amro reported suspicious transactions too late or not at all over a lengthy period. Moreover, they added that the bank failed to conduct proper investigation of client behaviour and did not cut off ties with suspect clients in a timely fashion.
However, they did not disclose over what period the alleged failures occurred. The bank was notified of the investigation on September 25, but was given no further detail on the scale of inquiries.
InAaugust 2019, ABN Amro had warned that it faced possible money laundering fines after the Dutch central bank ordered it to review all retail clients in the Netherlands for possible money laundering or other criminal activities.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.