ABN AMRO under investigation for alleged money laundering
The Dutch Prosecutor's Office investigates the involvement that ABN AMRO may have in money laundering and terrorist financing crimes
According to a statement issued by the banking entity “The Dutch Prosecutor informed ABN AMRO that the bank is subject to an investigation in relation to the requirements under the Law on the prevention of money laundering and terrorist financing”.
The suspicion was generated after the bank did not report unusual transactions, or did not do it on time, the entity confirmed last Thursday, September 26. According to this, the Prosecutor’s Office suspects in particular that the entity made few checks on the identity of its clients, sources from this agency indicated to several Dutch media.
After a report issued by the Bank of Holland last month, where the investigated entity had been ordered to initiate a full audit on the information of its five million private clients, the entity did not have the update of its files so it was impossible to correct evaluation of the risk that the financial institution may face in case of any crime committed by a client.
The Finance minister, Wopje Hoekstra, considered the investigation “worrisome” – of which he is informed as a shareholder -, although he did not want to anticipate its outcome and said it is good that the bank wants to cooperate.
The entity said it will continue to facilitate the corresponding investigations. “ABN AMRO will cooperate fully with the investigation.”
K.Villarroel
Source: bancaynegocios
