Friday, October 30, 2020

Banca d’Italia Orders Client Stop at ING in Fight Against Money Laundering

Banca d'Italia Orders Client Stop at ING in Fight Against Money Laundering 1
By Olaalpha

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Banca d'Italia Orders Client Stop at ING in Fight Against Money Laundering 2

The Italian central bank on Saturday said Dutch lender ING is not allowed to take on new customers in Italy as long as it has not improved its monitoring of client behavior. The measure follows inspections by Banca d’Italia from October last year until the beginning of 2019, which showed ING Italy did not do enough to prevent money laundering transactions through its accounts.

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