ING Belgium allegedly cooperated with an office in Geneva. This was to set up constructions with offshore companies in Panama and the Virgin Islands, Lars Bové of De Tijd explains. "This also happened quite recently. Behind the companies were rich Russians. We have questions about this, because banks should be very careful in the fight against money-laundering. The combination of wealthy Russians and offshore constructions should trigger an alert with banks, we believe."
Could it be that ING didn't know who was behind the construction? "Everyone should know which type of client he is dealing with, especially in this case", Bové says.