Public prosecutor imposes penalty order on ABN AMRO

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The Netherlands Public Prosecution Service (NPPS) imposed a penalty order on ABN AMRO on 28 May 2025 for involvement in transactions connected to, according to the NPPS, the filing of intentionally incorrect tax returns by a Dutch subsidiary of a foreign financial institution in the period 2010-2013. ABN AMRO resigns to the penalty order.

ABN AMRO was not involved in the tax returns. ABN AMRO or its predecessors were, however, involved in transactions with the foreign financial institution relating to Dutch shares and derivatives. According to the NPPS, these transactions were part of a transaction structure through which dividend tax was wrongly offset by the Dutch subsidiary of the foreign financial institution.

For ABN AMRO, the penalty order closes an old file originating at Fortis, one of ABN AMRO’s legal predecessors, and avoids potentially protracted criminal proceedings. ABN AMRO will pay a fine of EUR 14 million.

The penalty order does not affect the bank’s activities, as the department involved in the transactions was closed back in 2014.