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PHOTO FILE: The logo of the Banca d'Italia (Bank of Italy) is visible at the headquarters of Milan, Italy, on January 19, 2016. REUTERS / Stefano Rellandini / File Photo
AMSTERDAM (Reuters) – The Italian central bank announced on Saturday that the Dutch lender ING was not allowed to acquire new customers in Italy until it had improved its monitoring of the behavior of its banks. customers.
This follows inspections carried out by Banca d'Italia from last October to the beginning of 2019, which showed that ING Italy had not done enough to prevent money laundering operations by its accounts.
Last September, ING paid a record fine of € 775 million (€ 660.2 million) to Dutch prosecutors for failing to detect criminal use of its Dutch accounts for years.
The bank indicated that the deficiencies noted by the Italian supervisory authorities were the result of measures announced after the Dutch regulation aimed at improving the management of compliance risks.
"In the coming days, ING will work hard to remedy the deficiencies and solve the identified problems," said the lender.
ING said it will refrain from attracting new customers to Italy during further discussions with Banca d'Italia, but will continue to serve existing customers in the country.
Report by Bart Meijer; Edited by Marguerita Choy
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