Sunday, July 14, 2019 - ING's Belgian unit fined for money-laundering violations

ING Groep NV
Source - https://www.bloomberg.com/news/articles/2019-07-14/ing-s-belgian-unit-fined-for-money-laundering-violations
Where - Belgium
Cost - 350,000 EUR
Business line - Private Banking and Wealth Management

The Belgian unit of ING Groep NV was fined 350,000 euros by the central bank of Belgium for violating legislation against money laundering.

ING Belgium was hit with the penalty on April 24, Julie Kerremans, a Brussels-based spokeswoman for the unit, said in an emailed statement on Sunday.

Kerremans was responding to a Bloomberg News request for comment on a July 13 report by Belgian newspaper De Standaard that ING Belgium had a link with a Russian customer whom the bank didn’t properly identify.

The paper said the case covered dates in 2000 and 2013.