Trade ABN AMRO Group N.V. - ABNd CFD
The bank has warned investors that it faces significant fines for lapses in clients due to a lack of due diligence. Following the news ABN’s shares fell 9.3% in early trading on Thursday morning.
Last year, ABN’s largest domestic rival ING was handed a €775m fine for compliance failings that allowed large-scale money laundering and bribery.
Only yesterday the body of the former head of Danske Bank’s Estonian branch was discovered with suicide the likely cause of death. Danske Bank is currently under investigation for its role in laundering €200bn from Russia and Azerbaijan.
Last year, Olga Zoutendijk quit as ABN’s chairman after investigations from the ECB into its governance.
CEO Kees van Dijhuisen has said he will step down when his term comes to an end in April.