ING braces for Luxembourg AML indictment
Dutch financial group ING is bracing for a criminal indictment in Luxembourg over its failure to properly manage anti-money laundering (AML) processes at its unit in the Grand Duchy.
The bank said it was informed in January by a Luxembourg investigating judge that he intends to instruct the relevant prosecutor to prepare a criminal indictment regarding shortcomings in the anti-money laundering at ING Luxembourg.