ABN Amro To Pay €480M To Settle Dutch AML Penalty

Law360, London (April 19, 2021, 10:48 AM BST) -- Dutch bank ABN Amro said on Monday that it has agreed to pay a penalty of €480 million ($580 million) in an agreement with Dutch prosecutors after the lender failed to adequately shield itself against money launderers.

ABN Amro has said the investigation by Dutch prosecutors uncovered a failure to protect accounts from money laundering between 2014 and 2020. (AP Photo/Peter Dejong) The bank said it has accepted a settlement offer from the Dutch Public Prosecution Service in connection with an investigation into its anti-money laundering safeguards that began in 2019. The €480 million is made up of a €300 million...

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