EU Members Adopt Tougher Crypto Rules Than AML Directive Requires
14th August 2019
EU Members Adopt Tougher Crypto Rules Than AML Directive Requires
Europe is gradually tightening the rules for the crypto space. A wave of new regulations are introducing stricter requirements for companies operating in the industry and cryptocurrency users are going to feel the difference in the coming months. The measures stem from the obligation of member states to transpose EU’s… Read More
These idyllic Caribbean islands are trading illegal Venezuelan gold. Can it be stopped?
12th August 2019
These idyllic Caribbean islands are trading illegal Venezuelan gold. Can it be stopped?
It was a typically hot Saturday afternoon in Aruba when Rafael González Zambrano thought he had completed a routine operation, one he had been doing for about seven years already. After declaring the goods he was carrying, the Venezuelan-born man with a Dutch passport was escorted to his plane by… Read More
ABN Amro flags possible money laundering fines in latest blow to shares
9th August 2019
ABN Amro flags possible money laundering fines in latest blow to shares
ABN Amro (ABNd.AS) said it faces possible money laundering fines, which combined with a gloomy interest rate outlook overshadowed an unexpected quarterly profit rise, knocking the Dutch bank’s shares on Wednesday. The Dutch central bank (DNB) has ordered ABN to review all retail clients in the Netherlands for… Read More
ING’s Rising Compliance Costs Cast Shadow Over Client Growth
2nd August 2019
ING’s Rising Compliance Costs Cast Shadow Over Client Growth
ING Group NV wins hundreds of thousands of new customers every quarter but that’s still not enough to overcome the effects of lower interest rates and increased costs to tackle money laundering. The Amsterdam-based lender added almost a million primary clients in the last 12 months to reach 12.9… Read More
OCC Fines Ex-Rabobank Counsel $50,000 for Concealing AML Report
24th July 2019
OCC Fines Ex-Rabobank Counsel $50,000 for Concealing AML Report
The US regulator of national banks on Tuesday disclosed a $50,000 civil monetary penalty against the former general counsel of Rabobank N.A. for concealing a critical report on the lender’s anti-money laundering (AML) program. The fine by the Office of the Comptroller of the Currency (OCC) targets Daniel Weiss for… Read More
From the Netherlands to North Korea, Kim Jong Un’s Mercedes Take a Long Trip
17th July 2019
From the Netherlands to North Korea, Kim Jong Un’s Mercedes Take a Long Trip
The Mercedes-Benz limousines seen chauffeuring around North Korean leader Kim Jong Un this year have stumped outsiders over how the sanctions-hit regime obtained the luxury rides. But researchers now believe they have unearthed the Kim regime’s smuggling secret: It takes three cargo jets, about four months and five countries. A… Read More
European Authorities Arrest Six for €24m Bitcoin Theft, Money Laundering
26th June 2019
European Authorities Arrest Six for €24m Bitcoin Theft, Money Laundering
British and Dutch officials have arrested six individuals for their alleged roles in stealing €24 million in cryptocurrency from thousands of victims in a dozen countries. The suspects—five men and one woman—were arrested Tuesday morning in the UK’s Lower Weston and Staverton and the Dutch cities of Amsterdam and Rotterdam,… Read More
Diplomats: Europeans weigh sanctions on Venezuela’s Maduro
17th June 2019
Diplomats: Europeans weigh sanctions on Venezuela’s Maduro
AP — Major European nations are considering imposing sanctions on Venezuela’s Nicolás Maduro and several top officials for their recent crackdown on political opponents, although divisions remain over the timing of any action for fear of derailing a negotiated exit to the country’s crisis, The Associated Press has learned. The… Read More
British overseas territories top corporate tax loophole index
29th May 2019
British overseas territories top corporate tax loophole index
Britain’s offshore territories the British Virgin Islands (BVI), Bermuda and the Cayman Islands were named in a study released on Wednesday as the most significant jurisdictions used by global companies to minimise their tax bills. Governments are stepping up efforts to recoup more tax from multinationals, with the European Commission… Read More
EU to remove UK, Dutch overseas territories from tax haven blacklist
15th May 2019
EU to remove UK, Dutch overseas territories from tax haven blacklist
European Union finance ministers are set to remove this week the British overseas territory of Bermuda, the Dutch Caribbean island of Aruba and Barbados from the bloc’s blacklist of tax havens, an EU official said on Monday. The three islands were added to the list in March because the EU… Read More
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