Rabobank Faces Prosecution Over Anti-Money Laundering Failures

Rabobank is facing prosecution by the Dutch Public Prosecution Service for failing to comply with anti-money laundering regulations, specifically for not investigating unusual transactions over several years. The investigation, which began in December 2022, covers violations from October 2016 to December 2021. Unlike previous cases involving other banks like ING and ABN Amro, which resulted in out-of-court settlements, Rabobank has not reached an agreement due to a significant difference of opinion with prosecutors. The bank has expressed its willingness to cooperate but stated that negotiations for a settlement have stalled. The prosecution emphasized the serious implications of these violations on the integrity of the financial system and societal safety. Court proceedings are expected to commence soon as the investigation concludes.