ING settles Belgian money laundering case for €1.6 Million involving ex-EU Commissioner

ING has agreed to pay 1.6 million euros to settle a Belgian money-laundering investigation involving former European Commissioner Didier Reynders, the Brussels public prosecutor’s office said Tuesday.

The settlement follows a complaint filed by Belgium’s central bank in April 2025 against ING’s Belgian branch for possible complicity in money laundering.

According to Belgian newspaper De Morgen, Reynders deposited nearly 700,000 euros in cash into his ING Belgium account between 2008 and 2018.

That probe focused on 245 cash deposits and 779 e-Lotto transfers, totaling more than 1 million euros. Prosecutors investigated why the bank failed to report suspicious activity by Reynders earlier.

The bank questioned him about the deposits in 2018 but did not file a report until 2023 with the Cel voor Financiële Informatieverwerking, Belgium’s financial intelligence unit that receives suspicious transaction reports from banks.