ING ordered to pay 30 million euros to settle Italy money-laundering probe: source
Reuters
Published Feb 04, 2020 06:27AM ET
ING ordered to pay 30 million euros to settle Italy money-laundering probe: source
MILAN (Reuters) - A Milan court ordered Dutch lender ING (AS:INGA) to pay 30 million euros ($33.17 million) to settle a money-laundering case in Italy, a judicial source said on Tuesday.
The judge Roberto Crepaldi imposed a penalty of 1 million euros and ordered another 29 million euros to be confiscated from profits earned by ING.
The Netherlands' largest financial services provider admitted in 2018 that criminals had been able to launder money through its accounts and agreed to pay 775 million euros to settle the case in its home country.
The bank declined to comment.
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Written By: Reuters
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