According to a disclosure made by the bank to the Securities Exchange Commission on March 20, 2017 Dutch prosecutors announced their investigation of Netherlands-based bank ING for its alleged involvement in money laundering and corruption in Uzbekistan, According to the Dutch prosecutors, the subject of the investigation includes “unusual payments by VimpelCom to the company […]

On page 232 of ING Bank’s 2016 annual report, the company admitted it was “the subject of criminal investigations by Dutch authorities regarding various requirements related to the on-boarding of clients, money laundering, and corrupt practices.” It added that the bank has received related information requests from U.S. authorities and that it is “cooperating with […]

Dutch bank ING is accused of enabling 123 million euros of money laundering, channeling the flow of funds into companies in tax havens such as the Virgin Islands, reported Volkskrant.nl. Statements made by financier Sam van Doorn, 71, says that ING was repeatedly warned about the shady business practices going on there. Van Doorn’s ex-business associate Erwin van Ruiter, who led […]