Dutch Lender ABN Amro Fined $9.7 Million Over Anti-Money Laundering Shortcomings
By Dominic Chopping
ABN Amro said it was fined 8.5 million euros ($9.7 million) by the Dutch central bank for shortcomings in its anti-money laundering controls.
The Amsterdam-listed lender said De Nederlandsche Bank identified structural shortcomings in a number of cases that were investigated over a roughly 12-month period from September 2023.
"DNB identified structural deficiencies in the execution of ongoing monitoring for a portion of high-risk clients," the central bank said in a separate statement Thursday.
DNB said its probe found risk signals such as large cash withdrawals by private individuals, transactions with high- or heightened-risk countries, substantial and frequent commission payments, and signals that could indicate the circumvention of sanctions against Russia by ABN Amro clients.
The central bank said ABN Amro didn't investigate these signals with sufficient depth and wasn't decisive enough to adequately manage the risks.
ABN Amro said it acknowledged the seriousness of the shortcomings identified by DNB and the factual findings in the files examined, and accepted DNB's conclusions.
"Since the shortcomings were identified by DNB, ABN Amro has taken further concrete remediation measures to strengthen the effectiveness of its anti-money laundering processes," the Dutch lender said.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
July 09, 2026 03:08 ET (07:08 GMT)
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