24th January 2020
A Central American financial institution is suspected of helping clients worldwide evade taxes and launder money, according to tax investigators from the U.S., the Netherlands and three other nations coordinating a crackdown. Clients at the unidentified firm “may be using a sophisticated system to conceal and transfer wealth anonymously,” the… Read More
24th January 2020
Dutch regulators say the country’s trust industry is failing to properly control the type of shell companies used by Isabel dos Santos, Africa’s richest woman, who is accused of bilking millions of dollars from companies in her native Angola. The country’s trust offices, which help establish and manage Netherlands-based businesses… Read More
22nd January 2020
The number of letterbox, or shell, companies registered in the Netherlands has fallen by almost one third over the past five years, the Financieele Dagblad said on Tuesday. Tougher rules for trust offices and more stringent supervision by the central bank are among the reasons for the… Read More
20th January 2020
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
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
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 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 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
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 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