ABN AMRO has consented to pay for 480 million euros ($574 million) as a portion of a settlement by prosecutors who accused the Deadly state-owned bank of”serious shortcomings” in handling money laundering, prosecutors as well as also the bank said Monday.

The payoff had been made by a 300 million-euro nice and 180 million euros paid to pay for”unlawfully gained profits,” prosecutors said.

The nice”reflects that being a consequence of the severe consequences, definite customers that participated in… criminal activities could misuse bank balances and other professional services of abn-amro for a lengthier time period,” that the Dutch Public Prosecution Service said in a statement.

ABN really isn’t the very first leading Dutch bank to agree that a multimillion euro settlement over lax adherence having an legislation aimed at clamping down on money laundering and terrorism financing. In 2018, ING paid 775 million euros ($897 million) T-O pay a enormous money laundering event.

Prosecutors said Monday that the abn-amro’s breaches have been credited to the bank, however, included that their analysis identified three former associates of its board that”presumably are effortlessly responsible” for its offenses. It failed to recognize both and also said investigations are ongoing to if there’s adequate evidence to prosecute them.

But in Denmark Danske Bank said its CEO Chris Vogelzang had resigned after being named among many suspects. Gerrit Zalm, a former Dutch finance minister and ex-ABN AMRO board member, also stopped Danske Bank’s board.

Vogelzang said he had been astonished with the Dutch probe.

“I made abn-amro significantly more than just four decades ago and’m confident with the reality I handled my direction responsibilities with dedication and ethics,” he explained. “My status as being a defendant doesn’t mean that I’m charged”

abn-amro said in a statement it”deeply regrets that the problem and admits the seriousness of the issue, also that it’s fallen short in the fulfilment of its function as gatekeeper directed at combatting money laundering.”

CEO Robert Swaak included:”That is improper and we assume full responsibility for it ”