Investigation Houston: The ING Bank Compliance Failure
Investigation Houston The ING Bank AML Compliance Failure Lan’s Enterprise Limited Training Program Training Objectives What you’ll learn today: Understand how a major international bank failed its AML obligations Identify systemic compliance failures and their root causes Recognize the consequences of prioritizing business over compliance Learn key red flags that were missed for years Apply lessons to prevent similar failures in your organization Case Overview ING Bank N.V. - The Facts Institution: ING Bank Nederland (ING NL) Period: 2010-2016 Investigation: “Operation Houston” by Dutch FIOD Settlement: €775 million (September 2018) Status: Only Dutch bank on Global Systemic Banks list What Is a Systemic Bank? Critical Infrastructure 9 million account holders in Netherlands 340 million payment transactions per month Essential to financial system functioning Higher responsibility for system integrity Trusted reputation in national/international trade With great power comes great responsibility ...