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The Dutch State Bank offers money laundering services!  ABN Amro paid a hefty fine

The Dutch State Bank offers money laundering services! ABN Amro paid a hefty fine

Dutch state-owned bank ABN Amro recorded a loss of 54 million in the first quarter of 2021. This is linked to a fine of 480 million euros that it had to pay the state for laundering money. Already in 2019, the newspaper “De Telegraaf” revealed that Dutch companies with ABN Amro accounts participated in the transfer of more than 100 million euros in bribes that the Brazilian company Odebrecht transferred to officials and political parties in South America.

The third-largest bank in the Netherlands reached an agreement with the attorney general’s office last month, requiring a heavy fine for money laundering to be paid.

Dutch state bank was washing dirty money!  A new example of local rule of law


Dutch state bank was washing dirty money! A new example of local rule of law

Although the bank made a profit of 426 million euros in the first quarter, the necessity to pay 480 million euros to the state budget led to the three-month closing with a loss.

Already in 2019, the newspaper “De Telegraaf” revealed that Dutch companies with ABN Amro accounts participated in the transfer of more than 100 million euros in bribes that the Brazilian company Odebrecht transferred to officials and political parties in South America.

Then it was speculated that the case could end with charges against ABN Amro board members and a hefty fine. However, it was not until March 2021 that the Attorney General’s office announced that the bank had violated the “Anti-Money Laundering and Terrorism Financing Law.”

Under the agreement concluded on April 19, the bank decided to voluntarily sanction and transfer nearly half a billion euros to the state treasury.