The Justice Department announced Monday that the former ABN Amro Bank NV 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.

The department said the former ABN Amro has accepted responsibility for its conduct and will enter into a deferred prosecution agreement. The Dutch company was bought by Royal Bank of Scotland PLC.

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