ABN Amro fined for poor financial information gathering
The financial services authority AFM has fined ABN Amro bank €30,000 for giving customers poor financial information between January and July 2009.
The AFM looked at 16 case files and found the bank had not gathered enough information about the financial situation and risk profile of eight customers.
This led to them being given wrong advice about taking out insurance to cover their mortgage payments in case of loss of income through injury or death.
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