ING Settles Belgium Money Laundering Probe for 1.6 Million Euros
The settlement equals Belgium’s maximum fine for money laundering and ends the case against ING Belgium, while prosecutors continue the Reynders inquiry.
- On Tuesday, ING Belgium paid a €1.6 million out-of-court settlement to Brussels prosecutors, avoiding a criminal trial over its failure to report suspicious transactions linked to former European Commissioner Didier Reynders.
- Prosecutors investigated ING for failing to flag 245 cash deposits and 779 e-Lotto transfers involving Reynders, despite the bank reportedly questioning the transactions as early as 2018 but delaying formal reporting until 2023.
- The €1.6 million payment represents the maximum fine under Belgium's Criminal Code; the Brussels Public Prosecutor confirmed the bank's case is closed, though the investigation into Reynders, who denies any wrongdoing, continues.
- Emphasizing compliance, the Brussels Public Prosecutor stated that "money laundering can only be combated seriously and effectively if banks, without any special privileges and regardless of the client's status, comply with their anti-money laundering obligations."
- In its reaction, ING said it wanted to "close this chapter from the past" and "move on," claiming its governance and control environment have been fundamentally strengthened since the reporting delay.
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17 Articles
Dutch Bank Pays Out €1.6 Million in Former European Commissioner for Justice Laundering Case
The Brussels Public Prosecutor’s Office has confirmed the settlement of a 2025 complaint against ING by the National Bank of Belgium. Investigators found that the Amsterdam-based multinational banking and financial services corporation failed to flag more than €1 million in suspicious activity on Didier Reynders’ accounts, including 245 cash deposits and 779 e-Lotto transfers spanning two decades. The €1.6 million payment represents the maximum …
ING has reached the maximum out-of-court settlement of 1.6 million euros in Belgium for its role in the money laundering case surrounding the former Belgian...
ING settles Belgium money laundering probe for 1.6 million euros
Dutch banking group ING has reached a 1.6 million euro ($1.9 million) settlement in a money‑laundering investigation linked to transactions involving former European Commissioner Didier Reynders, the Brussels prosecutor’s office said on Tuesday.
Former Walloon politician Didier Reynders made 245 cash deposits and 779 e-Lotto transfers totaling more than 1 million euros. ING made no mention of this.
ING is paying a settlement of 1.6 million euros to avoid prosecution for money laundering, the Brussels public prosecutor's office reports. The bank had allegedly been aware since 2018 of regular cash deposits by former European Commissioner Didier Reynders, who is suspected of money laundering practices.
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