22nd November 2019
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
20th November 2019
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
14th November 2019
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
14th November 2019
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
12th November 2019
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
11th November 2019
The European Union’s largest states are pushing for the establishment of a new supervisory authority that would take over from states the oversight of money laundering at financial firms, after a series of scandals at the bloc’s banks. In a joint statement, Germany, France, Italy, Spain, the Netherlands and Latvia… Read More
11th November 2019
The IRS’s criminal division identified “dozens” of potential cryptocurrency tax evaders or cybercriminals after a meeting this week with tax authorities from four other countries. Officials from the U.S., U.K., Australia, Canada and the Netherlands — known as the Joint Chiefs of Global Tax Enforcement — shared data, tools and… Read More
7th November 2019
Dutch officials really don’t like it when someone calls their country a tax haven. In 2009, the Obama administration did just that, naming the Netherlands as one of a number of countries where scores of major American firms had established subsidiaries in order to avoid paying U.S. taxes. In a… Read More
1st November 2019
ING’s chief executive said his institution would “absolutely” support EU proposals to create a cross-border authority charged with overseeing anti-money laundering efforts in the bloc, the Financial Times reported Thursday.  The comments follow the disclosure that EU finance ministers are expected to formally task the European Commission with considering… Read More
30th September 2019
ABN Amro (ABNd.AS) is being investigated for money laundering in a new blow to shares in the Dutch bank, which prosecutors allege failed to report or probe suspicious transactions for years. The Netherlands has been the target of several inquiries into suspected money laundering and investigators last year… Read More