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ABN Amro’s shares fall as annual report reveals an ongoing investigation suspects bank of “culpable money laundering”

The new allegation could mean that the bank was aware of money laundering activities but did not act upon it — potentially leading to a higher fine and criminal charges against bank executives. Image: Donald Trung Quoc Don (Chữ Hán: 徵國單) - Wikimedia Commons

By Vish Gain for AMLi

DUTCH BANK ABN Amro’s shares fell by 4% on Monday morning after the company’s annual report last week revealed that an ongoing money-laundering investigation by Dutch authorities is bigger than previously claimed.

The investigation, launched in September last year, was understood to have pursued allegations of shortcomings in detecting and reporting suspicious activity and cutting ties with potential money launderers. According to the report, the financial services company is now suspected of “culpable money laundering”.

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