Dutch financial group ING is bracing for a criminal indictment in Luxembourg over its failure to properly manage anti-money laundering (AML) processes at its unit in the Grand Duchy.
The bank said it was informed in January by a Luxembourg investigating judge that he intends to instruct the relevant prosecutor to prepare a criminal indictment regarding shortcomings in the anti-money laundering at ING Luxembourg.
Register or log in to continue reading. Investment Officer is an independent journalism platform for professionals working in the Luxembourg investment industry.
A subscription is free for professionals working at banks and independent asset managers.
