Dutch Rabobank to face court case over failure to stop money laundering
AMSTERDAM, April 9 (Reuters) - Dutch lender Rabobank RABOVR.UL said on Wednesday it had failed to reach a settlement with prosecutors in their investigation into the bank's alleged failure to prevent money laundering.
Prosecutors in a separate statement said they would now take the case to court. They said the bank had failed for years to properly vet its customers and to report suspicious transactions.
Rabobank, a cooperative with roots in agricultural lending, said in December 2022 it was under investigation by public prosecutors for suspected violations of national money laundering laws.
The bank is one of the three largest in the Netherlands. Competitors ING INGA.AS and ABN Amro ABNd.AS have incurred massive fines in similar situations, with ING docked $900 million in 2018 and ABN $574 million in 2021.
Related Articles
Coca Cola (KO) Q4 Earnings Preview: Look for the Upside in the AI Initiatives, not in the Revenue and the EPS
Coca-Cola (KO) enters its fourth-quarter 2025 earnings call tomorrow with significant momentum. However, a fundamental shift is occurring.
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion Tre
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
