Skip to content
Subscriber Only

ABN Amro Says Regulator Demanding Checks on Dutch Retail Clients

  • CFO says lender has about 5 million clients in the Netherlands
  • Both ABN Amro and rival ING are boosting compliance staff

ABN Amro Group NV needs to review its 5 million retail clients in the Netherlands as part of the nation’s crackdown on money laundering.

The Amsterdam-based bank took a 114 million-euro ($128 million) provision for the checks in the second quarter, after already setting aside 85 million euros at the end of last year for stepping up financial crime prevention in commercial banking and the credit card business.