The Belgian unit of ING Groep NV was fined 350,000 euros ($394,485) by the central bank of Belgium for violating legislation against money laundering.
ING Belgium was hit with the penalty on April 24, Julie Kerremans, a Brussels-based spokeswoman for the unit, said in an emailed statement on Sunday.
Kerremans was responding to a Bloomberg News request for comment on a July 13 report by Belgian newspaper De Standaard that ING Belgium had a link with a Russian customer whom the bank didn’t properly identify.
The paper said the case covered dates in 2000 and 2013.
The full original article can be found at bloomberg.com