Dutch bank ABN AMRO to check customers for financial crimes

Dutch bank ABN AMRO says the Netherlands’ central bank has ordered it to check all of its retail customers for possible financial crimes as part of a government crackdown.

The bank revealed the order Wednesday as it announced that second-quarter net profit edged up 1% from the same period last year to 693 million euros ($775 million).

CEO Kees van Dijkhuizen says in a statement that he welcomes Dutch government plans to tackle financial crime. He says the central bank’s recent order to check all customers will cost 114 million euros ($128 million) and warns that sanctions such as a fine “may be imposed by the authorities.”

Last September, Dutch bank ING paid 775 million euros to settle a case linked to its failure to adequately prevent money laundering.