Belgian bank Degroof Petercam will be looked into by the European Central Bank's (ECB) Supervisory Board, according to sources, after media reports of alleged money laundering issues. Degroof was audited by the National Bank of Belgium over how it prevents money laundering and said in a statement that it would implement the central bank’s recommendations. Allegations of money laundering have rocked some European banks in recent times. Scandinavia’s Danske Bank and Swedbank have been embroiled in a scandal in the Baltic region. In Thursday, Latvia's ABLV Bank and Malta's Pilatus Bank both collapsed due to money-laundering allegations.
Belgian bank Degroof Petercam will be looked into by the European Central Bank's (ECB) Supervisory Board, according to sources, after media reports of alleged money laundering issues. Degroof was audited by the National Bank of Belgium over how it prevents money laundering and said in a statement that it would implement the central bank’s recommendations. Allegations of money laundering have rocked some European banks in recent times. Scandinavia’s Danske Bank and Swedbank have been embroiled in a scandal in the Baltic region. In 2018, Latvia's ABLV Bank and Malta's Pilatus Bank both collapsed due to money-laundering allegations.