ING probe includes Uzbek transactions

ING is under criminal investigation by Dutch authorities for alleged money laundering and corrupt practices.

The Dutch flag flies outside ING head office in Amsterdam, Netherlands. Source: AP

A corruption investigation into ING Groep includes past "irregular transactions" between telecoms company VimpelCom and Uzbek officials, Dutch prosecutors say.

Prosecutors said they are examining transactions involving subsidiary ING Bank NV.

"The bank is suspected of having failed to report, or report in a timely fashion, irregular transactions," prosecutors said in a statement. "It is suspected of having enabled international corruption and money laundering."

VimpelCom announced in February 2016 that it would pay $US795 million ($A1 billion) to resolve US and Dutch probes into a bribery scheme in Uzbekistan in the second largest global anti-corruption settlement in history.

1 min read

Published 22 March 2017 10:18pm

Source: AAP

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