Following the allegations against the ING Italy, last year on account of deficiencies with its money-laundering prevention which led to a stop on the acquisition of new customers, the Central Bank of Italy has released an order for the bank CEO to be removed, and all the bank attempt to plead was rejected. The Lazio regional court rejected its plea thereby acknowledging the action made by the Bank of Italy. The strict action emerged after criminals were able to launder a large sum of money through the Netherland’s largest financial service provider, ING and it agreed to settle the case in its country with a sum $865 million.
