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Dutch banks ABN Amro, ING fall after money laundering report

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By Reuters
Dutch banks ABN Amro, ING fall after money laundering report
FILE PHOTO: ABN AMRO bank is seen amongst other buildings in this aerial shot of the Zuidas area in Amsterdam, Netherlands, June 14, 2017. REUTERS/Cris Toala Olivares/File Photo   -   Copyright  Cris Toala Olivares(Reuters)
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LONDON (Reuters) – Dutch banks ABNAMRO and ING fell on Tuesday after a magazine report on a money laundering investigation alleged billions had been channelled through European banks, including the top three Dutch lenders.

The report in magazine De Groene Amsterdammer was part of an investigation by the Organised Crime and Corruption Reporting Project (OCCRP), which published an article on alleged money laundering through Russia’s Troika Bank on Monday.

Shares in ABNAMRO fell as much as 4.6 percent and were down 3.6 percent at 1026 GMT. ING fell 2.3 percent.

In September, ING paid a record $900 million (682.8 million pounds) fine for failing to spot criminal use of its accounts for years.

ABN Amro last month said it had stepped up its fight against money laundering and other criminal activities, booking 85 million euros in extra costs in the second quarter.

(Reporting by Helen Reid; editing by Jason Neely)