In view of the corrective measures taken by the Bank, previous periodic penalty payments and approval agreements, and its willingness to acknowledge and take responsibility for its actions, the Ministry of Justice has agreed to recommend the rejection of the information within one year, provided that ABN AMRO cooperates fully and complies with the terms of the Deferred Prosecution Agreement. In December 2005, ABN AMRO issued an approval order and paid penalties involving OFAC, the Board of Governors of the Federal Reserve System, the Illinois State Department of Financial and Professional Regulation, the Department of the State Bank of New York, the Nederlandsche Bank, and the U.S. Treasury`s Financial Crimes Enforcement Network. Agreements and Comparisons on Deferred Prosecution Agreements Under Deferred Prosecution Agreements, the U.S. Department of Justice (DOJ) and the New York District Attorney`s Office (NYDA) prosecute by providing criminal information, while agreeing not to prosecute the charge, provided that the accused meets certain requirements established in comparison. Requirements often include the definition of the facts constituting the alleged infringements, the payment of a fine and the establishment of compliance procedures in order to avoid future infringements. If the defendant complies with the terms of the contract for a certain period of time, the indictment is dismissed. Failure to comply with the agreement allows the DOJ and NYDA to act against the defendant based on their previously established facts. A criminal investigation was filed today in the U.S. District Court for the District of Columbia, which charges former ABN AMRO, a Dutch company based in Amsterdam, with one count of BSA violation and one count of conspiracy for fraud in the United States and violation of the IEEPA and TWEA.
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