Netherlands-based lenders have made "positive" steps towards improving their anti-money laundering systems and controls in the eight months since Dutch authorities assessed a €775 million fine against the country's largest bank, a senior regulator told ACAMS moneylaundering.com.
Dutch lender ING has agreed to pay authorities in the Netherlands a record €775 million after admitting to a litany of compliance violations that allowed criminals to launder hundreds of millions of euros, the country’s public prosecution service disclosed Tuesday.
The three largest banks in the Netherlands will soon launch a pilot platform for sharing customer due-diligence data with each other in efforts to streamline know-your-customer processes involving corporate clients.
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