ABN Amro has settled a money-laundering investigation by Dutch authorities by agreeing to a €480m settlement, while Danske Bank’s CEO has resigned after being named as a suspect in the matter by Dutch police.

The Dutch bank said in a statement that it had accepted a settlement offer from the Dutch Public Prosecution Service in connection with its investigation into compliance with its obligations under the Dutch Anti-Money Laundering and Counter Terrorism Financing Act between 2014 and 2020.