BANCA D’ITALIA ORDERS CLIENT STOP AT ING IN FIGHT AGAINST MONEY LAUNDERING

US News & World Report on 16th March reported that the Italian central bank on Saturday said Dutch lender ING is not allowed to take on new customers in Italy as long as it has not improved its monitoring of client behaviour.  ING paid a record €775 million fine in a settlement with Dutch prosecutors in September for failing to spot criminal use of its Dutch accounts for years.

https://money.usnews.com/investing/news/articles/2019-03-16/banca-ditalia-orders-client-stop-at-ing-in-fight-against-money-laundering

http://www.mondovisione.com/media-and-resources/news/bank-of-italy-ing-bank-anti-money-laundering-measures/

 

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