DUTCH BANK ING PAYS FINE TO SETTLE CRIMINAL INVESTIGATION INTO MONEY LAUNDERING

Deutsche Welle on 4th September reported that Dutch banking firm ING Group had announced it had agreed to pay a fine of €675 million and €100 million for disgorgement, settling regulatory issues in its ING Netherlands business with Dutch authorities.  ING acknowledged serious shortcomings in the execution of due diligence policies to prevent financial economic crime at ING Netherlands in the period under investigation — from 2010 to 2016.

https://www.dw.com/en/dutch-bank-ing-pays-fine-to-settle-criminal-investigation/a-45342322?src=ilaw

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s