ING Groep N.V. Rotten Score Breakdown

In the Interpay case, the Netherlands Competition Authority found that shareholder banks extended their cooperation in Interpay to the sale of network services for PIN transactions, eliminating competition in that market between January 1998 and March 2004. The authority's 2004 sanction decision imposed a €3.9 million fine on ING. A later objection decision reviewed the original sanctions. Source: Netherlands Competition Authority / ACM archive https://www.acm.nl/sites/default/files/old_publication/bijlagen/1108_2910BBS.pdf

In September 2018, Dutch prosecutors announced that ING Bank N.V. accepted and paid a €775 million settlement after a criminal investigation into years of serious and structural failures to comply with Dutch anti-money-laundering and counter-terrorist-financing rules. The Public Prosecution Service said ING failed adequately to conduct customer due diligence, monitor accounts and report unusual transactions. It said customers were consequently able to use ING accounts for criminal activities and money laundering. The €775 million consisted of a €675 million fine and €100 million disgorgement. Source: Dutch Public Prosecution Service https://www.om.nl/actueel/nieuws/2018/09/04/ing-betaalt-775-miljoen-vanwege-ernstige-nalatigheden-bij-voorkomen-witwassen