Volksbank fined €5m in Netherlands for transaction monitoring failures

Dutch lender de Volksbank's flawed transaction monitoring system and poor, including no, response to alerts generated, leading to major backlogs, has brought down a €5 million penalty from the De Nederlandsche Bank (DNB).

Dutch lender de Volksbank's flawed transaction monitoring system and poor, including no, response to alerts generated, leading to major backlogs, has brought down a €5 million penalty from the De Nederlandsche Bank (DNB). [1]