The government in The Netherlands has opened an investigation into ABN AMRO.
The government wants to verify that ABN AMRO is following the rules regarding the prevention of money laundering and the finance of terrorism.
The investigation was opened following a report from the Dutch central bank. ABN AMRO is suspected of not auditing their clients properly and there are some suspicious transactions that need to be verified.
Following the ING affair in 2018, which saw the bank fined 775 million euros to settle a money laundering case with authorities, Dutch banks must pay more attention to this issue.
ABN AMRO says it is cooperating with the inquiry. The bank has announced it will look into all of its clients to prevent money laundering.
The Brussels Times
