Probable pressure over the banking sector. ING took a record fine from EU

05.09.2018 / 08:36

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The EU imposed a record fine on ING Groep NV, which agreed to pay 775 million euros ($ 899.8 million) to settle an investigation into the Dutch prosecution office for money laundering. The shares of the company dropped by 1.25%.

At the same time, Danske Bank declined by 6.41% following a report that local prosecutors had uncovered a higher than expected tally of allegedly illegal Russian money moving through its Estonian branch.

The EU is firmly committed to tightening the money laundering and illegal practices policy. The banking sector world-wide can feel tensions, as illegal trillions of dollars revolve around the global financial system.

We remain cautious about the banking sector and bank stocks in Europe at the start of the trading session today.

Source: WSJ

Original Post: Europe Goes Harder on Money Laundering With Record ING Fine

Picture: pixabay.com

Trader Nikolay Georgiev

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Probable pressure over the banking sector. ING took a record fine from EU

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