(NL Times) ING is not allowed to close the account of the Najiba Foundation, the preliminary relief judge in Amsterdam ruled on Tuesday. The foundation has recently been raising money for the victims of the earthquake in Morocco. ING wanted to close the foundation’s account at the end of October because it did not comply with the rules against money laundering and terrorist financing. The foundation took the matter to court.
According to the judge, there are no “indications that the foundation is not (only) involved with charities, is engaged in money laundering, or exhibits other risky behavior.” The bank’s argument that transactions via Morocco are risky also does not apply because “Morocco is currently not a high-risk country,” the judge said.
