ABN Amro shares tumble as bank faces money laundering investigation
Another major Dutch lender is facing investigation by prosecutors examining controls in the country's banking system.
Thursday 26 September 2019 11:18, UK
ABN Amro has revealed it is facing investigation for possible breaches of the Netherlands' money laundering and terrorism financing legislation.
The Dutch bank pledged full co-operation with prosecutors and no further information on the nature of the inquiry was divulged.
The sector's activities have been under scrutiny for several years as part of a crackdown ordered by the country's government.
ABN shares fell almost 9% on the news.
It revealed earlier this year that the Dutch central bank had ordered it to check all of its retail customers for possible financial crimes.
Rival Dutch lender ING paid €775m a year ago to settle a case linked to an alleged failure to adequately prevent money laundering.