Dutch bank ABN Amro could be involved in money laundering activities

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.