Dutch authorities closes ING money laundering case

Koos Timmermans

After agreeing to pay $900 million to settle its money laundering case with Dutch authorities, ING said the investigations has been concluded.

In a statement to confirm that state of the matter, ING said:

On 4 September 2018 ING announced that it entered into a settlement agreement with the Dutch Public Prosecution Service (DPPS) relating to previously disclosed investigations regarding various requirements for client on-boarding and the prevention of money laundering and corrupt practices.

As previously noted, in connection with the investigations ING also received information requests from the US Securities and Exchange Commission (SEC). ING has received a formal notification from the SEC that it has concluded its investigation. In the letter the Division of Enforcement states that, based on information as of this date, it does not intend to recommend an SEC enforcement action against ING.”

Share:
Tagged