Dredging company Van Oord, ING Bank and credit insurer Atradius were all involved in an urban development project in Angola in which 3 thousand families were forcibly driven out of their homes to make from for the project, Trouw and Financieele Dagblad report based on leaked documents.
An employee of Amsterdam housing corporation Stadgenoot stole millions of euros from the company, insiders told the Telegraaf. For years the senior financial worker regularly transferred between 10 thousand and 20 thousand euros into the account of her minor daughter, the newspaper writes.
The woman was caught when ING became suspicious of the transactions and notified the authorities. She used the money for gambling and luxury vacations, according to the newspaper.
Dutch banking institution Rabobank said it has no plans to dismantle its cash machines on a wide-scale basis after robbers made two separate attempts to use explosives to break into the bank's ATMs early Monday morning. Just last week, police said that other banks' cash machines would be targeted more frequently after ABN Amro decided to remove 470 of its own ATMs across the country.
Four banks teamed up with the Dutch government and authorities to fight against financial service providers who launder money for criminals, Financieele Dagblad reported on Friday based on information from an anonymous source.
According to FD, ABN Amro, ING, Rabobank and Volksbank signed a covenant with the National Police, the FIOD, the Public Prosecution Service, and financial intelligence unit FIU. This "serious crime task force" will focus on upper world lackeys who facilitate undermining crime.
The bag of gifts Sinterklaas brings to your door will cost the holy man 2.6 percent more this year than it did last year, according to calculations by ING Economic Bureau. The price of most traditional Sinterklaas gifts increased over the past year, at least partly due to the increase in the low VAT rate, NU.nl reports.
Sweets and chocolate letters are 3.3 percent and 5 percent more expensive respectively. Toys saw a price increase of 1.5 percent. Books and fragrances now cost 3.3 percent more. The only cheaper gift is jewelry, 1.2 percent cheaper than last year.
Banks in the Netherlands have joined the fight against problematic debts. From now on banks will refer customers who are regularly in the red to website Geldfit, where they can get help with managing their money problems. The same applies to customers who use up their savings quickly or miss payments on a bank loan, NOS reports.
The police suspect a Dutch-Bosnian drug cartel of large-scale money laundering, part of which happened through ING and ABN Amro bank accounts, newspaper AD reports based on police documents in its possession.
ABN Amro is lowering the interest on its freely withdrawable savings accounts from 0.02 percent to 0.01 percent as of November 1st, the bank said on its website on Friday. Savings interest at ING is still 0.02 percent and at Rabobank 0.03 percent, NU.nl reports
People in the Netherlands use 26 billion pieces of plastic food packaging per year - 1,500 pieces of plastic per Dutch person per year, or four per day, according to a study by ING Economic Bureau. And plastic consumption continues to grow along with the population, increasing by around 100 million pieces of packaging every year, NOS reports.
Multiple board members and former board members of ING may still be prosecuted for their role in a massive money laundering case at the bank. The court in The Hague will soon rule on an Article 12 procedure that can force their prosecution, the Financieele Dagblad reported on Friday.
Five Dutch banks want to team up and establish an organization to tackle money laundering together. The idea is that by viewing the banks' total 10 billion transactions per year together, it will be easier for the organization - which they plan to call Transactie Monitoring Nederland (TMNL) - to identify suspicious activities, the Dutch association of banks NVB said to RTL Nieuws.
Instant bank transfers is now available to customers of seven Dutch banks. With the introduction of Instant Payments, customers can transfer money at night, over the weekend and on public holidays and it will immediately show in the recipient's account, instead of the recipient having to wait for the next business day, the Dutch Payments Association said to AD.
ING customers are furious by the prospect of their bank maybe charging negative interest on their savings accounts. CEO Ralph Hamers mentioned this as an option to cushion the blow should the European Central Bank decide to cut interest rates again, RTL Z reports.
Since 2010 Dutch banks and insurers provided around 7.9 billion euros in financing to large shale gas and plastic companies, according to research by the Fair Banking and Insurance Guide. ING was the largest Dutch financier for these companies, investing 3.5 billion euros into them, NU.nl reports.
Mobile payment method Apple Pay finally launched in the Netherlands on Tuesday, over 4.5 years after the service was introduced. The service allows users to pay for goods and services using their Apple devices instead of debit cards at contactless terminals where Maestro is accepted.
Electric cars will do a better job of retaining value in second-hand vehicle sales when compared to motor vehicles that make use of more common combustion engines, according to a report published by economists at Dutch bank ING. "The demand for used electric cars will exceed supply, resulting in rising used car prices," the bank said, estimating that 25 percent of used cars buyers in 2025 will consider an all-electric car.
The average Dutch household now spends a larger share of their income on basic needs like housing, healthcare and energy than in 2008. They therefore have less money left over for services and items. As a result, households now consume less than before the crisis, while at the same time spending more money, ING's economic office said on Thursday, NU.nl reports.
Expats and foreign students are a big driving force behind the spike in Amsterdam housing prices, ING's economic office said in a report. Housing prices in Amsterdam increased by an average of 70 percent since the low point on the housing market in 2013, compared to the national average of 30 percent.
The Netherlands could have attracted many more jobs from financial businesses fleeing the Brexit if it wasn't for the country's strict rules on bonuses, according to CEO Ralph Hamers of ING. Dutch law "has a lot of limits", Hamers said, NU.nl reports.
Under Dutch law, bonuses in the financial sector may not exceed 20 percent of the annual salary. This is a lot lower than the 100 percent limit in the European Union. "If you believe that people in the financial sector are stimulated by variable pay, then Amsterdam is not the obvious place to expand to", Hamers said.
Banks are increasingly removing their ATMs from Dutch streets due to ATM bombings. People living around ATMs fear for their safety. ING bank alone closed 170 out of its total 508 ATMs in the last two years, the Telegraaf reports.
By 2025 the Dutch market for the online sale of non-food items will be dominated by one or two platforms, like Amazon, Alibaba or bol.com, ING's economic office said on Wednesday. By that year 35 to 40 percent of all online sales will go through these platforms, the bank expects, NU.nl reports.
While online sales in the Netherlands are still fragmented, this will change in the near future. "The Netherlands is on the verge of a new battle in online retail, now that international platforms are approaching our country", said Dirk Mulder, sector banker for ING Trade & Retail.
ING employees can look forward to "significantly" lower bonuses this year, even though the bank is doing well with more clients and turnover. The bonuses will be lower due to a settlement of 775 million euros the bank had to pay last year for failing to monitor money laundering, NOS reports.
Amsterdam's stock exchange AEX closed on Monday at its lowest point since February 2017. The AEX index closed 1.7 percent lower at 495.31, the Telegraaf reports.
Business man Bill Browder pressed money laundering charges against a number of banks and businesses in the Netherlands. The Pubic Prosecutor is currently investigating the charges to see if criminal prosecution is justified, RTL Nieuws reports.