AMSTERDAM (Reuters) – Several Dutch banks insufficiently monitor clients and their transactions, enabling the clients to use accounts for money laundering and other criminal activities, the Dutch central bank (DNB) said on Tuesday.
“Too often we see that the bank sector insufficiently acts as a gatekeeper,” the DNB said in a letter to the Dutch Finance minister.
“Our research shows several banks have faulty client and transaction monitoring”, the central bank said, without specifically naming banks.
DNB’s letter followed a 775 million euro (693 million pounds) fine given to Dutch bank ING <INGA.AS> earlier this month for failing to notice dubious transactions by its clients.
Spokesmen for ABN Amro <ABNd.AS> and Rabobank [RABO.UL], the two other big banks in the Netherlands, said they put significant effort into trying to prevent money laundering. They both declined further comment on the central bank’s findings.
ING’s fine was the result of one the largest ever such settlements in the Netherlands and ultimately led to the dismissal of Chief Financial Officer Koos Timmermans.
(Reporting by Bart Meijer, editing by Louise Heavens and Jane Merriman)