ING Belgium linked to investigation into former European Commissioner Didier Reynders

Prosecutors in Belgium have launched an investigation into ING Belgium, a spokesperson has confirmed after a report from Le Soir. The move is linked to a broader investigation into former European Commissioner Didier Reynders, the Belgian newspaper reported. The Brussels prosecutor’s office is said to be looking into possible abuse of power.

According to Le Noir, the investigation is focused on the large sums of cash that Reynders deposited into his ING account between 2008 and 2018. The bank allegedly questioned the European Commissioner about this in 2018, but only passed the information on to the Belgian suspicious transactions reporting authority in 2023.

A spokesperson for the Belgian public prosecutor’s office gave no further information about the investigation. However, prosecutor Julien Moinil confirmed to Bloomberg that he opened the investigation into ING Belgium following a letter from the Belgian central bank.

ING said that they can give no details regarding the investigation, due to the privacy of their clients and legal obligations. “ING is dedicated to the battle against financial crime and is investing heavily in detecting money laundering practices,” the bank said.

Reynders is suspected of money laundering in Belgium. The Public Prosecution Service launched an investigation into him following reports from the National Lottery and the Financial Intelligence Unit regarding suspicious activities.

Reynders served as European Commissioner for Justice until December 2024 and had previously been Minister of Finance and later Minister of Foreign Affairs in his home country.