ABN Amro has agreed to pay 480 million euros (£415 million) as part of a settlement with prosecutors who accused the Dutch state-owned bank of “serious shortcomings” in tackling money laundering, prosecutors and the bank said.
The settlement was made up of a 300 million euro (£260 million) fine and 180 million euros (£155 million) paid to cover “unlawfully obtained gains”, prosecutors said.
The fine “reflects that as a result of the serious shortcomings, certain clients that engaged in … criminal activities were able to abuse bank accounts and other services of ABN Amro for a longer period of time”, the Dutch Public Prosecution Service said in a statement.
Dutch bank ABN Amro fined $574m in terrorism and money laundering purge
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ABN Amro to pay large fine in money laundering probe
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ABN Amro to pay large fine in money laundering probe
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