FILE PHOTO: ABN AMRO logo is seen at the headquarters in Amsterdam, Netherlands May 14, 2019. REUTERS/Piroschka van de WouwTHE HAGUE: ABN AMRO has agreed to pay €480 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 Monday.
ABN is not the first major Dutch bank to agree a multimillion euro settlement over lax adherence with a law aimed at clamping down on money laundering and terrorism financing. In 2018, ING paid €775 million to settle a huge money laundering case.
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