- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Global financial institution ING announced Tuesday that it has reached a $900 million settlement with Dutch authorities to resolve its money laundering case. A close reading of the enforcement action offers numerous lessons for compliance and risk officers.
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Dutch bank ABN AMRO reached a €480 million (U.S. $575 million) settlement with the Netherlands Public Prosecution Service to resolve money laundering charges.
ABN AMRO is facing new charges from Dutch prosecutors that imply the bank is suspected of knowing of money laundering activities perpetrated by its customers without intervening.
A Dutch court has ordered a criminal investigation into UBS CEO Ralph Hamers for his role in the ING money laundering scandal that occurred during his tenure as the latter financial institution’s leader.
