 |
| Rabobank’s headquarters in Utrecht. Photo: Depositphotos.com |
Rabobank has settled a
long-running charge that one of its US subsidiaries – RNA – laundered money for
Mexican drugs cartels and deliberately withheld information from the
authorities.
The settlement means Rabo will not have to undergo prosecution in
the US, the Volkskrant said on Thursday.
The bank has forfeited nearly $370m
(€298m) for anti-money laundering funds that authorities say allowed
untraceable money transfers on behalf of criminals and for hiding information
from US regulators. That includes a $50 million fine the bank will pay to the
US treasury.
The case involves a RNA branch in Calexco, a US city on the Mexican
border, which US authorities had been monitoring since 2006. A formal
investigation on laundering Mexican drugs money through three accounts at the
branch was launched in 2013.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.