ING Settles Belgian Money Laundering Probe for 1.6M Euros
Dutch banking group ING has agreed to pay a 1.6 million euro fine to settle a money laundering probe in Belgium linked to former European Commissioner Didier Reynders. While the bank did not admit guilt, the settlement represents the maximum possible penalty under Belgian financial law.
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ING GROEP NV reached a 1.6 million euro ($1.9 million) settlement with authorities in Belgium to end a money-laundering investigation. The fine represents the maximum penalty under Belgian financial law for the case involving transactions by former European Commissioner Didier Reynders. The settlement resolves a regulatory overhang for the Netherlands based lender without a formal admission of guilt.
