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Italian court rejects ING appeal over new customer ban

An Italian court rejected an appeal by ING Groep NV against an order by the Bank of Italy in March 2019 prohibiting the Dutch bank's Italian branch from conducting new business with new clients over lapses in money-laundering controls, Reuters reported.

ING Italia's former CEO Marco Bragadin previously argued that the central bank's decision, which included his removal, was based on "an extremely strict assessment of the facts" and "did not take into account corrective measures already taken" by the group, according to the report.

The Lazio Regional Administrative Court ruled that ING's appeal was "totally groundless" and said the central bank's order was legitimate, the news agency noted.