ING close to settling money-laundering probe in Italy: sources

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December 5 2019

Dutch bank ING Groep NV’s Italian business has reached a provisional deal with Milan prosecutors to settle a money-laundering investigation by paying 30 million euros ($33 million), two sources familiar with the matter said.

The proposed settlement, known as an “agreed penalty”, has yet to be confirmed by a judge but it has already won the backing of the prosecutors, the sources said.