Dutch lender ING investigated in money laundering case

ING is being investigated by Dutch prosecutors over allegations of money laundering and corruption, it emerged on Wednesday, hours after Britain’s major high street banks became engulfed the separate vast “Global Laundromat” money-concealing operation.

The Dutch lender — which hid news of its own criminal investigation on page 232 of its annual report — refused to reveal details.

Local reports, however, claim a link to a case alleging the payment of bribes to the daughter of Uzbekistan’s ex-president.

“ING Bank is the subject of criminal investigations by Dutch authorities regarding various requirements related to the on-boarding of clients, money laundering, and corrupt practices,” ING said.

Meanwhile, HSBC, Royal Bank of Scotland, Lloyds, Barclays and Coutts are among 17 UK-based or located banks facing questions over processing some $740 million (£590 million) from “the Global Laundromat” operation run by Russian criminals.