ABN Amro bankers leave after Dubai India fraud: reports

11th March 2015, Comments 0 comments

Six employees of state-owned Dutch bank ABN Amro, which hopes to go public this year, have left their jobs after breaching internal rules for Indian clients in Dubai, media reported Wednesday.

"ABN Amro received signs mid-2014 of some employees possibly not complying with internal guidelines," Bloomberg news agency quoted bank spokeswoman Brigitte Seegers as saying.

Dutch media reported that the bankers had helped Indian clients set up private accounts instead of business accounts.

Private accounts are subject to less strict rules aimed at preventing money laundering and terrorism financing.

An internal enquiry led to the six bankers leaving ABN Amro and the Indian accounts being closed.

The Dutch finance ministry said it had taken note "of the fraud issue" and had ascertained that the bank was putting its own house in order, Bloomberg said.

ABN Amro was nationalised in 2008 in the middle of the financial crisis.


© 2015 AFP

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