ING settles money laundering case with Dutch…

AMSTERDAM, Sept 4 – Dutch prosecutors said on Tuesday they had settled a money laundering case with ING Groep NV for 775 million euros ($900 million).

Prosecutors said they blamed the bank for violating the country’s law on preventing money laundering and financing terrorism “structurally and for years” by not having stopped customers’ accounts from being used for money laundering from 2010 and 2016.

Of the settlement, 675 million is intended as a fine and 100 million as disgorgement of ill-gotten gains, the country’s financial prosecution office said in a statement. ($1 = 0.8618 euros) (Reporting by Toby Sterling; Editing by Himani Sarkar)

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