Rabobank fined over poor anti-money laundering controls, KYC, beneficial ownership
15th February 2019
Rabobank fined over poor anti-money laundering controls, KYC, beneficial ownership
Dutch lender Rabobank has been fined just over €1 million over its anti-money laundering controls, including know your customer (KYC), customer due diligence (CDD) and beneficial ownership issues. The penalty was issued by the Dutch regulator, the Dutch National Bank (DNB), which reviewed the bank’s files for some years up… Read More
Bad loans and money laundering curbs take toll on ABN Amro
14th February 2019
Bad loans and money laundering curbs take toll on ABN Amro
Rising bad loans and a big investment in improving anti-money-laundering controls pushed fourth-quarter net profit from Dutch bank ABN Amro way below analysts’ expectations, prompting a sell-off in its shares. Net profit plunged 42 percent to 316 million euros (278 million pounds) from 542 million euros a year earlier. That… Read More
Cayman Islands added onto new tax haven blacklist
6th February 2019
Cayman Islands added onto new tax haven blacklist
The Cayman Islands has been added onto the Netherlands new low-tax jurisdictions list, dubbed blacklist, of 21 jurisdictions considered to be tax havens, as Amsterdam looks to roll out new measures to combat tax avoidance. Companies registered in the jurisdictions on the list face paying 20.5% tax from 2021 on… Read More
In shift, EU sanctions Iran over planned Europe attacks
9th January 2019
In shift, EU sanctions Iran over planned Europe attacks
The European Union on Tuesday froze the assets of an Iranian intelligence unit and two of its staff, as the Netherlands accused Iran of two killings on its soil and joined France and Denmark in alleging Tehran plotted other attacks in Europe. The move, although in part symbolic since one… Read More
Bank profits need to fall in fight against money laundering – ECB’s Knot
31st December 2018
Bank profits need to fall in fight against money laundering – ECB’s Knot
Banks need to step up the fight against money laundering and accept lower profits in return, European Central Bank board member Klaas Knot said, after a year in which investigations into criminal use of accounts implicated several EU lenders. “Banks need to adhere to rules and laws under any circumstance. Read More
Tax treaties create $4.2 trillion cash flow through Netherlands
14th December 2018
Tax treaties create $4.2 trillion cash flow through Netherlands
A network of favorable tax treaties and an industry devoted to minimizing tax bills has made the Netherlands the conduit for an annual flow of capital five times the size of its own economy, new research showed on Thursday. Statistics Netherlands published the data for the first time — based… Read More
Uber fined nearly $1.2 million by Dutch, UK over data breach
28th November 2018
Uber fined nearly $1.2 million by Dutch, UK over data breach
AP — The ride-hailing service Uber has been fined the equivalent of nearly $1.2 million by British and Dutch authorities for failing to protect customers’ data during a cyberattack in 2016. Britain’s Information Commissioner’s Office said Tuesday it fined the company 385,000 pounds ($491,000) and Dutch… Read More
Money laundering: Dutch police find €350,000 in washing machine
23rd November 2018
Money laundering: Dutch police find €350,000 in washing machine
Amsterdam detectives have arrested a 24-year-old man on suspicion of money laundering after they found €350,000 inside a washing machine at a house in New West. According to the municipal administration, no one lived at the house, said the police, who were conducting checks for unregistered residents when they came… Read More
Taxi receipt, records appear to link alleged hackers to GRU
5th October 2018
Taxi receipt, records appear to link alleged hackers to GRU
AP — April 12 was supposed to be another day on the job for Alexei Morenets, the balding 41-year-old alleged to be an on-site hacking specialist for Russian military intelligence. Morenets’ work for the agency, often abbreviated as GRU, was said to involve using specialized equipment to break into Wi-Fi… Read More
ING Bank exec resigns after $900 million money laundering fine
12th September 2018
ING Bank exec resigns after $900 million money laundering fine
Dutch banking group ING has announced that its chief financial officer will step down after it was fined €775 million (about $900m) for poor anti-money laundering controls, including client on-boarding and customer due diligence issues. CFO Koos Timmermans (pictured) was also a member of the Management Board Banking… Read More
Popular

UK SARs fall from key company formation agents

Portugal probes Angola leaks as Eurobic bank distances itself from dos Santos

The Reality About Corrupt PEPs: They’re a Global Problem

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

Estonia expands Danske laundering probe to cover up to $2 billion of transfers

Must Read

EU Threatens to Go After Money-Laundering Laggards With Lawsuits

Northern Ireland: Seven arrested in £215-million money laundering investigation

Compliance jobs in demand a year after Australia’s Hayne commission

Heads could roll at PwC over Isabel dos Santos links, says chairman

Halkbank Hit With U.S. Demand for Millions in Contempt Fines