ING Bank N.V. (ING) in Amsterdam has accepted and paid a settlement of EUR 775,000,000 offered by the Netherlands Public Prosecution Service ([NPPS]).

The NPPS has accused ING in the Netherlands of having violated the Anti-Money Laundering and Counter-Terrorism Financing Act for many years and on a structural basis; AND failed to prevent bank accounts held by ING clients in the Netherlands between 2010 and 2016 from being used to launder hundreds of millions of euros.

1. Translation Settlement agreement = https://www.om.nl/publish/pages/58351/translation_settlement_agreement.pdf

2. Statement of facts = For a detailed description of the offences, including criminal offences, see the statement of facts. https://www.om.nl/publish/pages/58351/statement_of_facts_houston.pdf