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ABN AMRO in Money-Laundering Scandal After Calling Bitcoin ‘Risky’

Published 09/26/2019, 07:42 AM
Updated 09/26/2019, 08:01 AM
© Reuters.  ABN AMRO in Money-Laundering Scandal After Calling Bitcoin ‘Risky’
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Having trumped up the risks of unregulated cryptocurrencies earlier this year, Dutch bank ABN Amro NV finds itself in the midst of a major money-laundering scandal.

On Sept. 26, Bloomberg reported on news of a criminal probe into the bank’s alleged failures to report suspicious transactions and to adequately vet its clients. ABN AMRO (AS:ABNd) — which remains over 50% government-owned after a costly bailout — saw its shares slump by as much as 10.3% in Amsterdam trading.

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