ABN Amro fires more staffers in Dubai fraud investigation
ABN Amro has dismissed another employee of the bank's Dubai office due to fraud, bringing the total of fired employees in the fraud investigation up to nine.
The fraud investigation revealed that this employee was also not adhering to the bank's rules, NOS reports. According to the bank, in 2011 this employee was involved in a dodgy transaction involving the cashing a 21 thousand dollar check from a client. The check was cashed at a branch of an Iranian bank in Dubai through an exchange office. The money was then transferred through a number of accounts outside ABN Amro to the customer at an ABN Amro office in Singapore.
The transaction is contrary to the bank's rules to prevent the laundering of criminal money or terrorism financing. Earlier this year Minister Jeroen Dijsselbloem of Finance informed the Tweede Kamer, lower house of parliament, that an internal investigation at the bank found no evidence of money laundering or terrorism financing.
This brings the total of employees fired from the ABN Amro Dubai office up to nine. This employee was fired due to this transaction, the other eight were fired because of other irregularities. The internal investigation has now been completed.
ABN Amro is also re-screening their customer portfolios at the bank. That investigation is expected to be completed in the fourth quarter, according to RTL Nieuws.