24th April 2019
Shareholders of Dutch bank ING on Tuesday voted against a motion granting executives discharge from legal liability for 2018, the company said, in a rare rebuke for the $900 million fine the company incurred in September for failing to prevent money laundering. The largely symbolic vote means the company could,… Read More
15th April 2019
European lawmakers are urging financial institutions and governments to address dozens of legal and supervisory shortcomings they say contributed to the proliferation of massive money laundering schemes in recent years. In a resolution adopted Thursday, the Council of Europe’s Parliamentary Assembly said that recent money laundering schemes linked to… Read More
8th April 2019
Dutch prosecutors on Friday said they have arrested three former employees of a Dutch company suspected of laundering about $1.2 billion for a client in India. The company bought materials and services for a client that since 2006 has been involved in a major gas pipeline project in India, the… Read More
20th March 2019
Prosecutors in Milan have begun a formal investigation into alleged money laundering involving Dutch bank ING Groep NV’s Italian business, a source close to the matter said. ING had no immediate comment on Tuesday on the investigation, which was launched after prosecutors received requests for assistance from other European countries,… Read More
18th March 2019
The Italian central bank on Saturday said Dutch lender ING is not allowed to take on new customers in Italy as long as it has not improved its monitoring of client behavior. The measure follows inspections by Banca d’Italia from October last year until the beginning of 2019, which showed… Read More
7th March 2019
Prosecutors in the Netherlands said on Wednesday they are evaluating signs of Dutch involvement in a money laundering network which is alleged by a report this week to have channelled billions of euros from Russia. Shares in Dutch banks ING and ABN Amro fell after a report by a collective… Read More
26th February 2019
Prosecutors raided locations across the Netherlands on Tuesday as part of an investigation into the alleged use of shell companies to distribute $100 million in bribes on behalf of Brazilian conglomerate Odebrecht SA. Data and financial records were seized from half a dozen homes and businesses, the Dutch financial prosecutors… Read More
15th February 2019
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
14th February 2019
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
6th February 2019
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