ABN Amro profits decrease due to cost of anti-money laundering safeguards

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Recent scandals at Danske Bank, ING and Rabobank as well as increasing regulatory requirements have motivated ABN Amro to improve their anti-money laundering safeguards. The bank owned partly by the Dutch government invested €85 million into its customer due diligence remediation programmes. The investment in combination with an increase in bad loans has led to a 42% year-on-year decline in net earnings.

Financial Times, Nicholas Megaw and Sarah Provan, February 13, 2019