The public prosecution department is planning to take legal action against Rabobank for failing to comply with laws on money laundering and the financing of terrorism.

The bank failed “for years” to properly investigate “unusual transactions” by its clients, the prosecution service said in a brief statement on Wednesday. Its investigation, which is now nearing completion, covers the period from October 2016 to the end of 2021.

The prosecution department has previously reached out-of-court settlements with ABN Amro and ING, amounting to €480 million and €755 million respectively.

Rabobank said in a statement that it is “fully cooperating with the investigation” and has discussed a possible settlement with the prosecution service. “However, there is such a difference of opinion regarding a settlement that the parties have not reached an agreement at this time,” the bank said.

Rabobank has declined to provide further details.

The prosecution department said it would now begin scheduling court dates. “Non-compliance with the law can have major social and economic consequences,” it said. “Money laundering and the financing of terrorism pose a threat to the integrity of the financial system and the safety of Dutch society.”