DNB imposes fine on ABN AMRO for shortcomings in part of anti-money laundering framework
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Jordi van Baardewijk
Sr Press Officer Risk Management, Compliance, HR, I&T and Detecting Financial Crime
ABN AMRO has taken note of the decision by De Nederlandsche Bank (DNB) to impose an administrative fine of EUR 8.5 million in relation to structural shortcomings in the execution of due diligence for a part of its high-risk customers.
DNB identified structural shortcomings in a number of files investigated for the period from 20 September 2023 to 9 September 2024. Since the shortcomings were identified by DNB, ABN AMRO has taken further concrete remediation measures to strengthen the effectiveness of its AML processes.
ABN AMRO acknowledges the seriousness of the shortcomings identified by DNB and the factual findings in the files examined, and accepts DNB’s conclusions. The bank has accepted the administrative fine.
ABN AMRO regrets that, in the files examined by DNB, it did not meet the standards expected of the bank in safeguarding the integrity of the financial system. The bank recognizes the importance of its role as a gatekeeper and the trust that society places in it.
In recent years, ABN AMRO has made progress in improving its AML processes. This was done together with thousands of colleagues and in close alignment with regulators. The bank remains committed to strengthening the robustness of its AML processes and meeting the standards expected by regulators, clients and society going forward.