ABN AMRO investigated for money laundering

The Dutch public bank ABN AMRO is being investigated for money laundering, according to the Dutch public minister, who has opened the investigation into ABN AMRO.

 

The minister wants to verify that ABN AMRO is following the rules regarding the prevention of money laundering and the finance of terrorism. The bank says it is cooperating with the enquiry. 

 

The minister said the investigation was opened after a report from regulator De Nederlandsche Bank (DNB), the Dutch central bank. ABN AMRO is suspected of not auditing their clients properly and there are some suspicious transactions that need to be checked.

 

ABN AMRO recently announced it will look into all of its clients to check for money laundering. Dutch banks have to be much more vigilant about this issue since the ING affair. ING had to pay the authorities 775 million euros after a money laundering investigation.