meta_id 3308877

On July 9, 2026, De Nederlandsche Bank (DNB) imposed an administrative fine of €8.5 million on ABN AMRO Bank N.V. (ABN AMRO) for serious deficiencies in its anti-money laundering controls between September 2023 and September 2024. DNB identified structural shortcomings in ABN AMRO's execution of ongoing customer due diligence for high-risk clients. The investigation revealed that ABN AMRO conducted insufficient, non-critical, and superficial client examinations. Across five client files examined, DNB found concrete risk signals including large cash withdrawals by individuals, transactions with high or elevated-risk countries, substantial and frequent commission payments, possible involvement with dual-use goods, and indicators of potential sanctions evasion against Russia through intermediaries. ABN AMRO failed to investigate these signals with adequate depth and did not take sufficiently rigorous action to manage risks appropriately. The bank relied heavily on unverified client statements without corroborating information with objective, verifiable data. When essential information was missing or clients failed to respond to information requests, ABN AMRO regularly closed investigations without conducting appropriate follow-up or implementing adequate measures, despite elevated risks. Under the Law on Prevention of Money Laundering and Terrorism Financing (Wwft), banks function as gatekeepers and must conduct risk-based anti-money laundering controls. DNB expects banks to conduct more thorough examinations for higher-risk clients. The fine was originally set at €10 million but reduced by 15 percent to €8.5 million through a simplified settlement procedure, which ABN AMRO accepted without filing an objection. DNB considered ABN AMRO's substantial financial capacity, the seriousness of the violation, and the bank's remedial measures and constructive approach when determining the penalty amount. REFERENCES: De Nederlandsche Bank. "Boete voor ABN AMRO Bank N.V. voor onvoldoende cliëntenonderzoek bij hoogrisicoklanten." July 9, 2026. Available at: https://www.dnb.nl/en/news/news-and-press-releases/handhavingsmaatregelen/boete-voor-abn-amro-bank-n-v-voor-onvoldoende-clientenonderzoek-bij-hoogrisicoklanten/