The Public Prosecutor (OM) has designated Rabobank as a suspect in an investigation into the prevention of money laundering. The bank reported this in a press release on Wednesday.
Rabobank’s anti-money laundering policy hasn’t been in order for some time. That is why the group had to pay a penalty of 500,000 euros earlier. It was also already clear that De Nederlandsche Bank (DNB) would start a so-called enforcement process due to the shortcomings.
It now appears that a criminal investigation has been launched and the bank has been designated as a suspect. Rabobank says it is fully cooperating with the investigation and does not want to make further statements.
In recent years, the role of banks in the fight against financial crime has increased. That doesn’t always go smoothly. ING and ABN AMRO have already reached agreements with the Public Prosecutor’s Office for hundreds of millions of euros.
Rabobank has recently released a lot of money to improve its anti-money laundering policy. According to the bank, this was necessary, for example, to eliminate backlogs in customer research and monitor transactions. Thousands of people work in the bank for this.
