Dutch central bank fines ABN Amro for customer due diligence failings (updated)
UPDATE 1-Dutch central bank fines ABN Amro for customer due diligence failings Adds details in bullet points; Updates headline
July 9 (Reuters) - Dutch bank ABN Amro ABNd.AS was fined 8.5 million euros ($9.9 million) by the Dutch central bank DNB for structural shortcomings in due diligence checks on high-risk customers in files reviewed between September 2023 and September 2024.
ABN Amro said it accepted the fine and regretted failing to meet the standards expected in safeguarding the integrity of the financial system.
DNB highlighted shortcomings in five customer files
Files included signs of Russia sanctions circumvention, high-risk jurisdictions and dual-use goods exposure
DNB said ABN failed to investigate the risks adequately
ABN accepted the findings and will not contest the fine
(Reporting by Hugo Lhomedet; Editing by Matt Scuffham)
((hugo.lhomedet@thomsonreuters.com))
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