By Vish Gain for AMLi
DUTCH BANK ABN Amro’s shares fell by 4% on Monday morning after the company’s annual report last week revealed that an ongoing money-laundering investigation by Dutch authorities is bigger than previously claimed.
The investigation, launched in September last year, was understood to have pursued allegations of shortcomings in detecting and reporting suspicious activity and cutting ties with potential money launderers. According to the report, the financial services company is now suspected of “culpable money laundering”.
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