DNB - De Nederlandsche Bank

ABN AMRO Fined $8.5M for Inadequate High-Risk Customer Checks ABN AMRO Bank N.V. has been fined €8.5 million by De Nederlandsche Bank (DNB) for inadequate customer due diligence concerning high-risk customers. The investigation revealed that ABN AMRO failed to thoroughly investigate risk indicators such as large cash withdrawals and transactions involving high-risk countries. The bank overly relied on customer explanations without sufficient verification, indicating a structural lack of depth in its due diligence processes. The fine, reduced from an initial €10 million due to ABN AMRO's cooperative attitude and remediation efforts, was settled through a simplified procedure, with the bank accepting the penalty.