26 Sep 2018
Several Dutch banks insufficiently monitor clients and their transactions, enabling the clients to use accounts for money laundering and other criminal activities, the Dutch central bank (DNB) said on Tuesday.
“Too often we see that the bank sector insufficiently acts as a gatekeeper,” the DNB said in a letter to the Dutch Finance minister.
“Our research shows several banks have faulty client and transaction monitoring”, the central bank said, without specifically naming banks.
DNB’s letter followed a 775 million euro (693 million pounds) fine given to Dutch bank ING (INGA.AS) earlier this month for failing to notice dubious transactions by its clients.
– By Bart Meijer, Reuters, 25 September 2018
Link to Reuters.
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