ING Italy to strengthen compliance
16 Marzo 2019 - 1:51PM
ING has been informed by the Banca d'Italia of
their report with conclusions regarding shortcomings in AML
processes at ING Italy. ING will analyse the findings from an
inspection conducted from October 2018 until January 2019 and will
discuss them further with the Banca d'Italia. In line with the
enhancement programme announced last year, it is taking the
necessary steps to improve processes and management of compliance
risks as required by the Banca d'Italia.
In close consultation and in agreement with the
Banca d'Italia, ING Italy will refrain from taking on new customers
during further discussions on the enhancement plans with the Banca
d'Italia. ING will continue to fully serve existing clients in
Italy. In the coming days ING will work hard to address the
shortcomings and resolve the issues identified.
The measures in Italy come in the context of the
steps ING announced in September 2018 to enhance its management of
compliance risks and embed stronger awareness across the whole
organisation. This programme started in 2017 and includes enhancing
KYC files where necessary and working on various structural
improvements in compliance policies, tooling, monitoring and
governance.
ING is committed to conducting its business with
integrity. Also going forward, whenever during the global
enhancement programme and associated activities issues are
identified, ING will take the appropriate actions. We will do this
in close cooperation with supervisory and regulatory
authorities.
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ING Group Investor
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Christoph.Linke@ing.com |
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ING PROFILE
ING is a global financial institution with a strong European base,
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INFORMATION
Elements of this press release contain or may contain information
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Article 7(1) to (4) of EU Regulation No 596/ 2014.
Certain of the statements contained herein are not historical
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limitation: (1) changes in general economic conditions, in
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in performance of financial markets, including developing markets,
(3) potential consequences of the United Kingdom leaving the
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to cybercrime including the effects of cyber-attacks and changes in
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and infringement claims by third parties, (25) the inability to
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ING Italy to strengthen
compliance
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Source: ING Group via Globenewswire
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