Featured Netherlands

Dutch Banks Given Green Light for Joint AML Investigations

Plans by lenders in the Netherlands to tackle complex international money-laundering schemes together have won support from regulators following a seven-month investigation to assess the Dutch financial sector’s exposure to the scandal that engulfed Danske Bank Estonia. De Nederlandsche Bank, or DNB, wrapped up the investigation in December after pinpointing… Read More

ABN Amro Offices Raided by Police in Frankfurt Over Tax Scandal

German law enforcement officials descended upon ABN Amro NV’s offices in Frankfurt for a second time in three months to probe the bank’s involvement in a tax scandal that’s ensnaring a rising number of companies. Police cars were parked in a line outside the offices of the Dutch bank… Read More

Almost one in 10 ABN Amro staffers are working on financial crime

ABN Amro has more than 2,000 people working full-time on tracing fraud, money laundering and other financial crime, chief executive Kees van Dijkhuizen said at the presentation of the bank’s annual results on Wednesday. The total, around 9% of the workforce, is twice the number of financial crime investigators employed… Read More
13th February 2020
The European Commission has sent legal warnings to Cyprus, Portugal, the Netherlands and five other EU states over their delays in applying new anti-money laundering rules adopted at European Union level two years ago. The 27 EU states were required to enact by January tighter rules to counter dirty-money risks… Read More
13th February 2020
A number of international banks were declining to do business with Maltese nationals as they viewed the jurisdiction to be too risky, sources within Malta’s financial institutions warned. Sources from the financial sector and banking regulators confirmed they had received reports from Maltese nationals and Malta-based businesses after overseas banks… Read More
5th February 2020
A Milan court ordered Dutch lender ING (INGA.AS) to pay 30 million euros ($33.17 million) to settle a money-laundering case in Italy, a judicial source said on Tuesday. The judge Roberto Crepaldi imposed a penalty of 1 million euros and ordered another 29 million euros to be confiscated from… Read More
30th January 2020
On January 23, 2020, the Internal Revenue Service published a news release titled “Global tax chiefs undertake unprecedented multi-country day of action to tackle international tax evasion.” The announcement highlighted a coordinated effort across the United Kingdom, United States, Canada, Australia and the Netherlands to combat money laundering and… Read More
28th January 2020
HM Revenue & Customs has helped uncover £200m worth of suspected tax evasion and money laundering in the UK. The action — which occurred as part of a series of investigations in Australia, Canada, the Netherlands, the US and the UK — is centred around a Central American financial institution… Read More
24th January 2020
A Central American financial institution is suspected of helping clients worldwide evade taxes and launder money, according to tax investigators from the U.S., the Netherlands and three other nations coordinating a crackdown. Clients at the unidentified firm “may be using a sophisticated system to conceal and transfer wealth anonymously,” the… Read More
24th January 2020
Dutch regulators say the country’s trust industry is failing to properly control the type of shell companies used by Isabel dos Santos, Africa’s richest woman, who is accused of bilking millions of dollars from companies in her native Angola. The country’s trust offices, which help establish and manage Netherlands-based businesses… Read More
22nd January 2020
The number of letterbox, or shell, companies registered in the Netherlands has fallen by almost one third over the past five years, the Financieele Dagblad said on Tuesday. Tougher rules for trust offices and more stringent supervision by the central bank are among the reasons for the… Read More
20th January 2020
Pausing at the entrance to a star-studded bash at the Cannes Film Festival, ’90s icon Sharon Stone flashed her one-of-a-kind cuff bracelet. It was a wraparound hippo with rubies for eyes, sapphire nostrils and white diamond teeth. Its body was covered in brown, gray and white diamonds. The dazzling ornament… Read More
17th January 2020
An Italian court on Thursday backed a decision last year by supervisors at the Bank of Italy prohibiting Dutch lender ING from taking on new customers in Italy over a money laundering case. The central bank also ordered the lender to remove its Italian CEO. The Bank of Italy measure,… Read More