Dutch banks stocks fall as Russian money laundering scandal deepens
By Caoimhe Toman
Date: Tuesday 05 Mar 2019
(Sharecast News) - Shares in Dutch banks ABN AMRO and ING fell on Tuesday morning after De Groene Amsterdammer magazine reported on an alleged Russian money laundering scandal involving the top three Dutch lenders.
The magazine report, on a money laundering investigation by the Organized Crime and Corruption Reporting Project, alleged that billions had been moved through European banks and Russia's Troika Bank.
Shares in ABN AMRO fell as much as 4.6% on Tuesday and ING fell 2.3%.
Although, Raiffeisen Bank International AG led the declines, falling as much as 11% on Tuesday after Bill Browder's Hermitage Fund filed a report to Austrian prosecutors saying the bank helped launder funds that originated in Russian criminal activity.
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