Belgian Prosecutor Investigates ING Belgium in Ex-EU Commissioner Reynders Money Laundering Probe

ING Belgium is under investigation for its role in handling large cash deposits in the account of Didier Reynders, a former European Commissioner and Belgian minister, amid allegations of money laundering which Reynders denies. The probe focuses on nearly 700,000 euros deposited in cash between 2008 and 2018, with questions raised about ING's delayed reporting to financial authorities until 2023 despite internal inquiries starting in 2018. Authorities are also examining whether ING provided preferential treatment to Reynders, with current and former executives, including former CEO Erik van den Eyden and current CEO Peter Adams, summoned for questioning. Reynders allegedly spent significant sums on lottery tickets, depositing winnings back into his account, a pattern now under scrutiny. ING has emphasized its strong commitment to fighting financial crime and declined to comment on specifics due to privacy and legal constraints. Experts highlight that banks have an obligation to report suspicious transactions, especially involving prominent politicians, and have criticized the timing of ING's reporting in this case.