Three former members of the board of directors of the Dutch bank ABN Amro were the subject of a criminal investigation as part of a money laundering investigation, according to the prosecution in The Hague.
The bank accepted a settlement and paid 480 million euros ($ 575.1 million), the prosecution said.
The suspects include former finance minister Gerrit Zalm and the managing director of the Danish financial institution, Danske Bank, Chris Vogelzang, who resigned on Monday following the allegations.
The investigation began in 2019 and covered transactions between 2014 and 2020.
ABN Amro violated the anti-money laundering law, according to the prosecution.
Both the clients and the origin of the larger sums of money have not been sufficiently verified and checked.
Documents were missing; a risk analysis was not in place.
Significant transactions were not reported.
As a result, several customers may have used the bank’s services for money laundering purposes for a longer period. (dpa / NAN)
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