Rabobank charged by Dutch public prosecutor with money laundering

Rabobank Charged By Dutch Public Prosecution Service In Money Laundering Case

16 May 2025 at 19: 37

Reading time: 2 minutes

Rabobank, a leading Dutch sofa led by Belgian Stefaan Decraene, is being prosecuted by the Dutch Public Prosecution Service for alleged violations of anti-money laundering legislation.

The Dutch judicial system began an investigation into Rabobank almost two years ago. The bank allegedly failed to monitor money laundering activities and suspicious financial transactions.

The bank, which is the second largest in the Netherlands, was already under pressure from regulators to improve its anti-money laundering procedures. This resulted in a penalty of half a million euro.

Rabobank has previously stated that it needs to spend 1 billion euros annually to get its anti-money laundering procedures in order. During the investigation, the bank tried to reach a settlement with the Public Prosecution Service, but these talks were not successful. "There is a clear difference of opinion, which means that the parties have not reached an agreement at this time," Rabobank said in a press release. This shows that the Public Prosecution Service will bring the case to court.

A lawsuit could be an expensive affair for Rabobank. ING, the Netherlands’ largest bank, paid €775 million almost seven years ago to avoid prosecution in a major money laundering case. ABN AMRO, another Dutch bank, paid almost half a billion euros in 2021 to settle a similar case.

In 2021, the Dutch regulator imposed a strict recovery program on Rabobank to improve its anti-money laundering controls. The bank was required to thoroughly examine all of its customer files. As a result of stricter supervision, Rabobank has been shedding 10.000 customers per month, according to the Dutch newspaper Het Financieele Dagblad.

The recovery plans have cost the bank, which last year posted a net profit of 5,1 billion euros, a lot of money. Rabobank has previously stated that this amounts to 1 billion euros per year. Worldwide, the bank has deployed approximately 8.000 people for its mandatory recovery program against money laundering.

This programme is now largely complete. The bank is in consultation with the Dutch Central Bank about the next steps to be taken.

Questions & Answers

Why is Rabobank being sued?
Rabobank is being sued by the Public Prosecution Service in the Netherlands for alleged violations of anti-money laundering legislation. It is alleged that the bank failed to monitor money laundering activities and suspicious financial transactions.

What are the financial consequences for Rabobank?
Rabobank has previously indicated that it needs to spend 1 billion euros annually to get its anti-money laundering procedures in order. In addition, the costs of a potential lawsuit could be significant, as ING, the largest bank in the Netherlands, paid 775 million euros almost seven years ago to avoid prosecution in a similar case.

What are the consequences for Rabobank customers?
As a result of stricter supervision, Rabobank has been shedding 10.000 customers per month. The bank was also required to thoroughly investigate all of its customer files as part of its recovery program.

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