The Trader 

Market Outlook: Dutch bank ABN Amro investigated by prosecutor

The Trader

Yesterday Dutch banking giant ABN Amro, which was bailed out by the Dutch government a decade ago (the state still has a 56 per cent stake), saw its share price tumble 12 per cent as it admitted that the public prosecutor had launched a criminal investigation into possible money-laundering, not acting on this, and possible financing of terrorism; these have been going on for years with late reporting of suspicious transactions, lax due diligence, and hanging on to dodgy customers for too long. Dutch finance minister Wopke Hoekstra said, ‘’it’s extremely worrying that ABN Amro s under investigation.’’  

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