A Dutch court has ordered an investigation into the role in monitoring compliance with anti-money laundering regulations on Ralph Hamers during his time as CEO of the ING group, according to the publication Reuters agency. Hamers has been the CEO of UBS since September 2020.
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The manager was in charge of ING from 2013 until June of this year. This financial entity paid 775 million euros in an agreement with the Dutch prosecutors in 2018, after it was proven that the bank executives had not detected practices such as money laundering and other criminal activities in their accounts for a period of years.
The agreement with the payment of the millionaire amount put an end to the investigation on ING, with which both the bank and its board of directors were released from any criminal charge. Now, however, another Dutch court in The Hague has continued to investigate after some investors upheld their claims, which have been accepted, on the grounds that justice had not been served.
“UBS takes note of the Dutch court’s decision to order the public prosecutor to open an investigation into Ralph Hamers, in his capacity as former CEO of ING, in relation to compliance with ING’s anti-money laundering rules,” the Swiss bank said in a statement.
“ING reached an agreement on this matter with the prosecutor in 2018. UBS has full confidence in Ralph Hamers’ ability to lead UBS,” the bank said.