Business

ABN Amro to settle money laundering probe for $574 million

AMSTERDAM (Reuters) – Dutch bank ABN Amro on Monday said it will pay a fine of 480 million euros ($574 million) to settle a criminal investigation into money laundering by prosecutors in the Netherlands.

The fine was the outcome of a settlement with Dutch prosecutors who in 2019 said ABN Amro, one of three dominant lenders in the Netherlands, had failed to detect money laundering and other criminal activities by its clients for years.

(Reporting by Anthony Deutsch; Editing by Christopher Cushing)

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