Dutch Public Prosecution Service launches investigation against Rabobank over possible legal violations
Rabobank is accused of systematically violating laws aimed at combating money laundering and terrorism financing over a five-year period.
Photo: Tjeerd Wiersma, CC BY 2.0
The Dutch Public Prosecution Service (OM) announced its decision to take Rabobank to court over years-long violations of the Anti-Money Laundering and Counter-Terrorism Financing Act (Wwft).
According to the investigation, from October 2016 to the end of 2021, the bank systematically failed to conduct proper client due diligence and did not report suspicious financial transactions.
The investigation was triggered by a complaint from the Dutch central bank — De Nederlandsche Bank (DNB).
Prosecutors note that such violations undermine the stability of the financial system and pose a threat to public safety.
The case is now in its final phase, and the parties are working to schedule a court hearing date.
Back in December 2022, the Dutch Public Prosecution Service launched an investigation into Rabobank. The bank was suspected of inadequate oversight of money laundering and terrorism financing.
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