ABN AMRO Bank N.V.
Approved Evidence
ABN AMRO Fined €3.9 Million in Dutch Interpay Competition Case
The Netherlands Competition Authority found that banks participating in Interpay extended their cooperation to network services for PIN transactions and thereby eliminated competition in that market between January 1998 and March 2004. The authority's original 2004 sanction decision imposed a €3.9 million fine on ABN AMRO. Source: Netherlands Competition Authority / ACM archive https://www.acm.nl/sites/default/files/old_publication/bijlagen/1108_2910BBS.pdf
ABN AMRO Paid €480 Million Over Structural Anti-Money-Laundering Failures
In April 2021, ABN AMRO accepted a €480 million settlement with the Dutch Public Prosecution Service over years of serious and structural failures under Dutch anti-money-laundering law. Prosecutors said deficiencies in customer due diligence, risk classification, transaction monitoring and reporting allowed criminal customers to misuse ABN AMRO accounts and services. The settlement consisted of a €300 million fine and €180 million disgorgement. In December 2024, prosecutors separately decided there was insufficient evidence to prosecute four former executives personally; that did not undo the bank's 2021 settlement. Sources: Dutch Public Prosecution Service https://www.om.nl/actueel/nieuws/2021/04/19/abn-amro-betaalt-480-miljoen-euro-vanwege-ernstige-tekortkomingen-bij-het-bestrijden-van-witwassen https://www.om.nl/actueel/nieuws/2024/12/18/om-gaat-voormalig-bestuurders-abn-amro-niet-vervolgen