Former ING CEO Ralph Hamers Will Not Face Criminal Charges in Money Laundering Case
The Hague, Netherlands – Former ING CEO Ralph Hamers will not be prosecuted for his role in a major money laundering scandal that plagued the Dutch bank between 2010 and 2016, a court in The Hague ruled today. The decision concludes a five-year legal battle initiated after concerns that Hamers, as chief executive, oversaw criminal offenses related to the facilitation of money laundering through ING accounts.
The case stemmed from a 775 million euro settlement ING reached in 2018 with authorities after admitting criminals used its platform to launder hundreds of millions of euros. While the public Prosecution Service initially investigated hamers, they concluded last year there was “insufficient evidence” to pursue personal charges. Today’s ruling affirms that conclusion, acknowledging Hamers’ recent cooperation with the court and improvements ING has made to its anti-money laundering controls.
The legal proceedings were brought by the Foundation for Business Information Research (SOBI), who successfully challenged the Public Prosecution Service’s initial decision not to prosecute individuals at ING. The court had previously criticized Hamers for not appearing at earlier hearings, but acknowledged in today’s decision that his recent testimony – answering questions and providing insight into his role at the complex international bank – was vital. hamers’ lawyer had previously stated his client had been told his presence wasn’t required at earlier stages.
