Zalm – Financial Treason & Crime

Jaclyn Jaeger, 19 April 2021

Dutch bank ABN AMRO on Monday reached a €480 million (U.S. $575 million) settlement with the Netherlands Public Prosecution Service (NPPS) to resolve money laundering charges.

The NPPS first informed ABN AMRO in 2019 the bank was the subject of a criminal investigation relating to potential violations of the Dutch Anti-Money Laundering and Counter Terrorism Financing Act (AML/CTF Act). Recently, the NPPS added new charges of “damaging money laundering” to the case. Continue reading “Article: ABN AMRO to pay $575M in money laundering settlement with Dutch authorities”

04/19/2021

Article: ABN Amro Sees Quarterly Loss After $574 Million Settlement

Article - Media, Publications

ABN Amro Sees Quarterly Loss After $574 Million Settlement

Joost Akkermans, 19 April 2021

ABN Amro Bank NV agreed to pay 480 million euros ($574 million) to end a Dutch investigation that found “serious shortcomings” in the lender’s processes to combat money laundering.

The amount will be booked in the first quarter and the lender expects a “modest” loss as a result, according to a statement on Monday. As part of the settlement, ABN Amro will pay a fine of 300 million euros and a disgorgement of 180 million euros, with the latter reflecting costs the lender had saved, according to the Dutch public prosecutor. Continue reading “Article: ABN Amro Sees Quarterly Loss After $574 Million Settlement”