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Court Ruling Against ING’s Ex-Chairman Raises Legal Specter Over Dutch Bankers

By Koos Couvée

A Dutch court's ruling paving the way for former ING chief executive Ralph Hamers to stand trial for systemic anti-money laundering violations that the Dutch lender committed on his watch has major implications for other high-ranking managers of banks in the Netherlands. On Wednesday, the Court of Appeal in The Hague ordered the Public Prosecution Service to open a criminal investigation into Hamers, who led the bank from 2013 until he resigned in June, almost two years after ING agreed to pay Dutch authorities a record €775 million to redress a litany of violations that allowed criminals to launder hundreds...

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