ING fined for money laundering in Belgium

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July 13 2019

A fine has been imposed on ING in Belgium. ING Belgium did not properly follow the rules to prevent money laundering, according to the central bank. The fine of € 350,000 related to a suspicious Russian customer who was doing transactions with hundreds of thousands of dollars for years at a time.

According to the so-called sanctions committee of the Belgian National Bank, ING failed to oversee this customer, De Standaard reports on Saturday.