Belgium’s central bank is currently investigating Dutch bank ING for its handling of potential money laundering activities linked to Didier Reynders, a former European Commissioner for Justice. According to reports from Belgian newspaper Le Soir, ING had knowledge of irregularities in Reynders’ finances as early as 2018 but failed to escalate the matter.
In 2018, while Reynders was Belgium’s foreign minister, ING raised questions about his frequent and substantial cash deposits—amounting to approximately €800,000. However, the bank did not report these concerns to Belgium’s Financial Intelligence Processing Unit (CFI) at the time. Reynders reportedly ceased these deposits after the bank inquired about their origins, but investigators allege he then turned to a lottery scheme to launder money.
Investigators suspect Reynders of laundering an additional €200,000 through a lottery operation. Reports suggest he regularly purchased thousands of euros worth of scratch lottery tickets from a petrol station near his residence. A cashier at the station recounted that Reynders often visited in the late afternoon, buying tickets in cash amounts as high as €3,000—the maximum legal limit for such transactions in Belgium. She added that her colleague had advised her to “remain discreet” and to deposit the money directly into the safe.
Authorities have scrutinized the station’s surveillance footage and interviewed employees about Reynders’ activities. Meanwhile, Le Soir revealed that half of the suspicious ticket purchases were made using an account registered to Reynders’ wife, a retired high magistrate from the court of appeals.
Two separate investigations are underway: one by Belgium’s public prosecutor and another by the Financial Intelligence Processing Unit. The case gained traction in March 2022, following reports of Reynders’ suspicious behavior involving the National Lottery. The Brussels federal police launched a formal inquiry in March 2024 after receiving reports from both the National Lottery and the CFI.
Reynders and his wife were questioned in early December 2024 after his premises were searched. This followed the loss of his immunity, which he held as Justice Commissioner. Public broadcaster RTBF later reported that Reynders had an account with deposits totaling €1 million.
When asked for comment, ING stated it is “not authorized by law to discuss individual cases.” The bank emphasized its commitment to combating money laundering and financing terrorism, affirming its cooperation with judicial authorities when required.
Despite these allegations, Reynders has denied any wrongdoing. His political career, spanning decades, includes serving as Belgium’s Minister of Finance from 1999 to 2011, during which he was also politically responsible for the Belgian Lottery between 2007 and 2011. Although he has faced multiple accusations of corruption and misconduct in the past, no Belgian court has ever found him guilty.
This high-profile investigation shines a light on financial oversight issues and raises questions about the responsibilities of both public figures and financial institutions in preventing illicit activities.
