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ABN AMRO Finalizes €480 Million Settlement of AML Violations

By Koos Couvée

ABN AMRO will pay the Netherlands nearly half a billion euros to address serious and systemic violations of anti-money laundering rules from 2014 to 2020, but a criminal investigation against three of the bank's former executives will continue, officials announced Monday. The Dutch Public Prosecution Service disclosed that the Amsterdam-headquartered bank, the country's third-largest by assets, consented to a €300 million fine and €180 million disgorgement of profits after failing to remedy AML weaknesses highlighted in several internal reviews and on numerous occasions by regulators during those six years. An investigation launched in September 2019 found that the bank failed...

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