Swiss Firm in Panama Papers Charged in Transatlantic Stock Scam
3rd January 2020
Swiss Firm in Panama Papers Charged in Transatlantic Stock Scam
Two executives and a Swiss firm linked to shell companies in the Panama Papers data leak were charged in the U.S. with scamming investors in pump-and-dump schemes. Blacklight SA and the executives bought shares of small publicly traded companies and then publicized false information such as pending merger deals, prosecutors… Read More
Angola hits ‘Princess’ dos Santos with asset freeze
2nd January 2020
Angola hits ‘Princess’ dos Santos with asset freeze
Angola has frozen the assets of Isabel dos Santos, the billionaire daughter of the country’s previous leader, in a sign that President João Lourenço is taking a tougher line against the former first family. Since ending José Eduardo dos Santos’ nearly 40-year grip on power in 2017, Lourenço has been… Read More
EU to consider tougher tax haven listing
9th December 2019
EU to consider tougher tax haven listing
A group of European Union countries is calling for the bloc to cast a wider net when listing tax havens and to consider imposing stricter sanctions for countries facilitating tax avoidance, according to an EU document and an EU official. The document, prepared by the Danish government and seen by… Read More
ING close to settling money-laundering probe in Italy: sources
6th December 2019
ING close to settling money-laundering probe in Italy: sources
Dutch bank ING Groep NV’s (INGA.AS) Italian business has reached a provisional deal with Milan prosecutors to settle a money-laundering investigation by paying 30 million euros ($33 million), two sources familiar with the matter said. The proposed settlement, known as an “agreed penalty”, has yet to be confirmed… Read More
Dutch Crypto Startups Brawl With Regulators Over Scope of EU Money Laundering Rule
3rd December 2019
Dutch Crypto Startups Brawl With Regulators Over Scope of EU Money Laundering Rule
Dutch crypto startups are crying foul as regulators in the Netherlands look to implement the European Union’s 5th Anti-Money Laundering Directive (AMLD5) ahead of a Jan. 10 deadline. The firms, which include exchanges and software developers, say authorities are subverting the democratic process and trying to right past wrongs that… Read More
ABN Amro failed to screen 5 million customers after 2010 Fortis merger: report
22nd November 2019
ABN Amro failed to screen 5 million customers after 2010 Fortis merger: report
When merging with Fortis in 2010, ABN Amro failed to screen the over 5 million Fortis customers individually, according to NRC. All 5 million of them were automatically labeled as “reliable” – the lowest risk category – meaning that ABN Amro considers them relatively harmless and unlikely to commit financial… Read More
German police raid suspected hawala banking ring
20th November 2019
German police raid suspected hawala banking ring
German authorities have carried out a raid on an organized international network suspected of illegally transferring millions of euros to Turkey. Police searched about 60 apartments and offices in Tuesday’s early-morning raids across Germany. Officers say 27 people are suspected of being involved in the scheme; six arrest warrants have… Read More
Criminals launder €13bn a year in the Netherlands, most crime cash is Dutch
14th November 2019
Criminals launder €13bn a year in the Netherlands, most crime cash is Dutch
At least €13bn is laundered through the Netherlands on an annual basis, with most of the money coming from Dutch criminal enterprises, according to new research quoted in the Finanancieele Dagblad. Utrecht University professor Brigitte Unger estimates that half the €16bn generated by crime in the Netherlands is laundered through… Read More
ABN Amro Shares Slip as Probe Raises Doubts Over Cost Targets
14th November 2019
ABN Amro Shares Slip as Probe Raises Doubts Over Cost Targets
ABN Amro Bank NV fell in Amsterdam trading as profit slipped and a criminal probe prompted the bank to warn of uncertainty. Operating profit missed estimates while an ongoing money laundering investigation raised concerns that the company’s cost-cutting targets could be at risk. The stock fell as much as… Read More
Probe Into Defence Force Vessels Deal: Bahamas $150m Contract Caught In Dutch Inquiry
12th November 2019
Probe Into Defence Force Vessels Deal: Bahamas $150m Contract Caught In Dutch Inquiry
The Netherlands is investigating alleged bribery involving the Christie administration’s acquisition of nine defence force vessels in 2014 and has been receiving co-operation from local officials for its investigation since June of last year. Dutch officials suspect corruption related to the shipbuilding services this country received from Damen Shipyard Group… Read More
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