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20th January 2020

Western Advisers Helped An Autocrat’s Daughter Amass And Shield A Fortune

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

Italian court confirms ING new customer ban in money laundering case

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

16th January 2020

ABN Amro CEO-elect Robert Swaak faces AML, M&A test

Robert Swaak is largely unknown, even in the relatively close-knit banking community of the Netherlands, but after a career at the Dutch branch of PwC, he is assuming one of the most influential roles in banking in the country, if not in Europe. As chief executive of ABN Amro… Read More

10th January 2020

ABN Amro Picks New CEO to Confront Criminal Probe

ABN Amro Group NV appointed former PwC Netherlands chairman Robert Swaak as chief executive officer to help the Dutch bank navigate challenges from a criminal probe to a tax scandal. Swaak — who has also held a number of top roles at the consultancy and accounting firm — takes… Read More

9th January 2020

Dutch banks struggle to recruit staff to check for money laundering: FD

Dutch banks are struggling to recruit hundreds of money laundering experts to beef up their compliance departments, the Financieele Dagblad said on Friday. So desperate have banks become that they are advertising for school leavers with no experience and offering starting salaries of €3,000 plus a ‘focus on personal… Read More

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

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

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

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

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

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