THE HAGUE, July 9 (Xinhua) -- The Dutch central bank (DNB) said on Thursday that it had imposed an administrative fine of 8.5 million euros (9.7 million U.S. dollars) on ABN AMRO Bank N.V., one of the Netherlands' largest banks, over serious shortcomings in its anti-money laundering controls between September 2023 and September 2024.
According to DNB, the bank failed to adequately monitor some of its high-risk customers on an ongoing basis, resulting in structural deficiencies in its customer due diligence procedures.
"This investigation shows that ABN AMRO failed to carry out adequate customer due diligence, as the ongoing monitoring was insufficiently critical, thorough and decisive," the regulator said in a statement.
ABN AMRO acknowledged the seriousness of the shortcomings identified by DNB, saying it remains committed to strengthening the robustness of its anti-money laundering processes and meeting the standards expected by regulators, clients and society.
ABN AMRO reported a net profit of 693 million euros (792.6 million U.S. dollars) in the first quarter of 2026, up 12 percent from a year earlier.
