Suriname’s Finabank NV has reached a conclusive settlement with Dutch prosecutors, paying €124,500 to recover €4.5 million seized eight years ago in a money laundering investigation. The agreement ends years of legal uncertainty and reputational damage for the financial institution.
CEO Eblein Frangie confirmed the bank will not pursue further legal action against the Dutch Public Prosecution Service (OM), choosing instead to finalize the matter and focus on business recovery. The settlement arrangement emerged after six months of negotiations, with funds expected to be returned within four weeks.
The case originated in 2018 when Dutch authorities confiscated €19.5 million in cash from three banks—Hakrinbank, De Surinaamsche Bank, and Finabank—during transit from Suriname to China via the Netherlands. Despite initial suspicions of money laundering, no formal charges were ever filed, and the allegations remained unproven throughout the eight-year period.
Frangie detailed the significant operational impacts during a press conference at Finabank’s headquarters. The prolonged investigation caused international clients, particularly in the oil and gas sector, to withdraw or hesitate doing business with the bank. Enhanced compliance checks slowed processes and created commercial stagnation.
The CEO emphasized that the settlement payment does not constitute an admission of wrongdoing. “No lawsuit was ever initiated against us,” Frangie stated. “The funds were detained based on Dutch indicators. We have consistently complied with Caribbean Financial Action Task Force standards and all applicable Surinamese laws and regulations.”
With the chapter now closed, Finabank will not seek damages from Dutch authorities. Instead, management will prioritize revitalizing operations that stalled during the lengthy investigation period.