Three former board members of Dutch bank ABN Amro were under criminal investigation in a money-laundering probe, the public prosecutor’s office in The Hague says.
The bank has agreed to a settlement and paid 480 million euros (575.1 million dollars), the prosecutor’s office said.
The suspects include former finance minister, Gerrit Zalm, and the chief executive of Danish financial institution, Danske Bank, Chris Vogelzang, who resigned on Monday following the allegations.
The investigation had started in 2019 and covered transactions between 2014 and 2020.
ABN Amro violated the Anti-Money Laundering Act, according to the prosecution.
Both customers and the origin of larger sums of money were not sufficiently verified and checked.
Documents were missing; a risk analysis was not in place.
Large transactions were not reported.
As a result, several clients may have used the bank’s services for money-laundering purposes for a longer period of time. (dpa/NAN)
