WASHINGTON — The Justice Department announced Monday that the former ABN Amro Bank N.V., now owned by Royal Bank of Scotland, has agreed to forfeit $500 million in connection with a conspiracy to defraud the United States.

The department alleged that the bank, a Dutch corporation that was headquartered in Amsterdam, assisted countries and entities under U.S. sanctions and facilitated the movement of illegal money through the U.S. financial system.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.