![]() The bank said that based on the settlement announced Tuesday and its cooperation with authorities, “we expect that this matter will also be resolved with the SEC without further payment or the imposition of further conditions.”Īmong suspect transactions that ING failed to prevent was the payment of tens of millions of euros (dollars) in bribes by Amsterdam-based telecommunications multinational Vimpelcom, now known as VEON, to get a foothold in Uzbekistan, prosecutors said. Securities and Exchange Commission had also asked for information about the Dutch investigations. The settlement included a 675 million ($781 million) fine and a disgorgement payment of 100 million euros ($116 million) to the Dutch government that represented the amount ING did not spend on staff and procedures to implement anti-money laundering rules.
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