The chief financial officer of ING Group has resigned in the wake of the US$900 million settlement paid by the Dutch bank last week as a result of its failure to adequately implement anti-money laundering laws. Koos Timmermans, who is also on the executive board of the band, will step down once a successor is found. ING Supervisory Board chairman Hans Wijers said the bank "came to the conclusion it is appropriate that responsibility is taken at executive board level."