ING pays $900 million to resolve Dutch ‘corrupt practices’ case
Tuesday, September 4, 2018 at 8:18AM
Dutch bank ING Group NV said Tuesday that it agreed to pay a fine of €675 million ($782 million) and disgorge €100 million ($115 million) to resolve criminal investigations into lax business practices.
The Amsterdam-based bank said its resolution with the Dutch Public Prosecution Service related to requirements for client on-boarding, the prevention of money laundering, and corrupt practices.
ING said in a disclosure filed with the U.S. Securities and Exchange Commission that the investigations “established serious shortcomings in the execution of policies to prevent financial economic crime” from 2010 to 2016.
The FCPA Blog
ING fined €775m for lax crime prevention – BBC News