ABN Amro fined Dh2.3m by Dubai regulator over money laundering systems | The National

ABN Amro fined Dh2.3m by Dubai regulator over money laundering systems | The National:

"ABN Amro has become the latest international bank to face financial penalties of US$640,000 for perceived deficiencies in its anti-money laundering systems in the UAE, receiving fines from both Dubai and Dutch regulators.

The Dubai Financial Services Authority (DFSA) announced that it had imposed the fine on the Dutch bank’s branch in the DIFC, after its private banking division contravened rules “requiring it to implement appropriate safeguards to prevent opportunities for money laundering”.

The regulator launched the investigation earlier this year in conjunction with the Dutch central bank De Nederlandsche Bank (DNB), following the resignation of six Dubai-based ABN Amro private banking employees for failing to comply with the bank’s internal guidelines."



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