No terrorist financing, fraud at ABN Amro Dubai: Dijsselbloem

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An internal investigation of the ABN Amro branch in Dubai found no evidence of fraud committed by employees. There was also no evidence of terrorist financing or money laundering. There was, however, evidence that internal rules were violated.

Minister Jeroen Dijsselbloem made this announcement in a letter to the Tweede Kamer - lower house of parliament. Dijsselbloem asked Gerrit Zalm, CEO of ABN Amro, if anything in the reports that some bankers tampered with accounts in Dubai were true. Some bank employees in the city in the United Arab Emirates allegedly helped wealthy Indian customers with prohibited business transactions.

Dijsselbloem called it a "serious matter. Even if I determine that ABN Amro intervened solidly and sufficiently." the minister said. "In my opinion this issue is not indicative of a broader problem of internal supervision."

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