Dutch central bank DNB penalized Rabobank last year due to money laundering risk. The bank has not yet sufficiently screened 40 thousand of its customers. The bank confirmed this penalty payment, saying that it mentioned it in reports, NOS reports.
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 crimes, according to the newspaper.
Every year around 13 billion euros of criminal money is laundered in the Netherlands, according to a study by Brigitte Unger, Professor of Economics at Utrecht University. Laundered criminal money accounts for around 1.6 percent of the Dutch economy, she concluded,Financieele Dagblad reports.
The majority of this laundered criminal money comes from the Netherlands itself. Criminals earn around 16 billion euros in the Netherlands through their criminal practices per year. About half of that amount is also laundered in the Netherlands.
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.
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.
While searching a warehouse on Piusstraat in Tilburg this week, the police found over 550 thousand euros in cash and large amounts of soft drugs. Two suspects were arrested, the police said in a statement.
The police raided a property on Piusstraat, on which two warehouses are located, on Wednesday morning. In the one warehouse, the police found nearly 30 thousand joints, 70 kilograms of cannabis, and 20 kilograms of hash. The drugs were seized and removed from the site. There was also a safe, which the police could not get open immediately.
The Public Prosecutor launched a criminal investigation into ABN Amro for money laundering and terrorism financing. The bank is suspected of reporting suspicious transactions late or not at all, and not screening its clients properly, NOS reports.
A spokesperson for ABN Amro confirmed to NOS that the bank was informed of the investigation on Wednesday. Other than that ABN Amro is fully cooperating in the investigation, the bank would say nothing further.
Police investigating a home invasion were surprised to find hundreds of thousands of euros in cash and several expensive watches, seemingly overlooked by a group of burglars who were in the home moments earlier.
Three burglars invaded a home in Zwijndrecht, Zuid-Holland last week, and locked up a resident in the basement while they searched the home. The resident managed to escape and call the police after the robbers fled the home.
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.
The VVD wants banks to check city council members for money laundering and signs of links to the criminal underworld, like the payment systems of national politicians are already monitored, VVD parliamentarian Roald van der Linde said to BNR.
Amsterdam is losing the fight against organized crime. The authorities know little about the drug economy and -crime, the police are no longer even trying to fight drugs, and the judiciary failed to tackle the real crime structures, De Telegraaf reports based on a study it has in its possession.
Johan van Laarhoven, a Dutch man who used to own coffeeshops The Grass Company in the Netherlands, was sentenced to 75 years in prison in cassation in Thailand. No further appeal is possible against this ruling, making the sentence final, his lawyer said to RTL Nieuws.
In a major investigation into so-called criminal facilitators, the FIOD uncovered a large network of drug, weapons and anabolic steroids traffickers. Six people from Noord-Holland, Zuid-Holland, Utrecht and Flevoland were arrested over the past months. The FIOD seized 450 thousand euros in cash and bank balances, and over a million euros worth of ecstasy, steroids and medicines, AD reports.
Rabobank is no longer taking professional football clubs as clients due to "raised to unacceptable risks of money laundering, corruption, fraud and other abuses", NRC reports based on an internal message the bank circulated this summer. Rabobank employees are also no longer allowed "to take on new managerial or supervisory positions" at professional football organizations due to a "potential conflict of interest", the message said.
Dutch central bank DNB ordered ABN Amro to review all its existing retail clients in the fight against financial crimes like money laundering, CEO Kees van Dijkhuizen revealed in a statement released with the bank's second quarter report. ABN Amro made 114 million euros available for this review of existing clients, the CEO said.
Suspicious transactions reported in the Netherlands last year broke records in both number of reports and the amount involved. A total of 57,950 suspicious transactions were reported, involving an amount of 9.5 billion euros, according to figures released by the Netherlands' Financial Intelligence Unit (FIU), an independent investigative agency of the National Police, NU.nl reports.
A man with 68 thousand euros in cash on him jumped into the Maas river in Rotterdam while trying to get away from the police on Thursday morning, the Rotterdam police said on Twitter.
According to the police, officers addressed the man because he showed suspicious behavior. He could not explain why he had so much cash on him.
"What do you do if you have 68 thousand euros in your pocket, cannot explain this and have the police right in front of you? A man on Prins Hendrikkade only saw one way out", the police tweeted. "With the money, he jumped into the water."
The Dutch government wants banks, accountants, tax specialists and trust offices to do more to detect fraud and corruption in their systems. The government therefore asked the Netherlands' Financial Intelligence Unit (FIU) to create a checklist to show financial institutions what to look out for, Financieele Dagblad reports.
Banning cash payments of over 3 thousand euros, regulating cryptocurrencies, and calling for the 500 euros banknote to be taken out of circulations are two of a large package of measures against money laundering that Ministers Wopke Hoekstra of Finance and Ferdinand Grapperhaus of Justice and Security sent to parliament on Monday.
Amateur football clubs are an asset for criminals, who use them for money laundering, drug dealing, and creating an image of prestige and power in a neighborhood or town, according to a recent study by Tilburg University. Five football clubs from Zeeland and Noord-Brabant suspect that criminals are trying to infiltrate their club, according to the researchers, AD reports.
A 33-year-old man from Apeldoorn was arrested on Monday for fraud, forgery and money laundering. According to the authorities, he earned at least 2 million euros by convincing people to invest in Bitcoin mining computers that he never bought, De Gelderlander reports.
Last week customs officers found crystal meth and ketamine at a transport company in De Lier. The drugs were hidden in a shipment of frozen chicken drumsticks, which were on their way to England, the Public Prosecutor said in a statement.
The discovery was made on April 17th. A 32-year-old man from Amsterdam was arrested on suspicion of involvement in drug trafficking and money laundering. He was arraigned earlier this week and remanded into custody for another two weeks.
Shop keepers in Amsterdam who receive large amounts in cash as payment from customers, will soon have to report it to the municipality. That is one of the measures Amsterdam mayor Femke Halsema announced in the city's fight against undermining crime, RTL Nieuws reports.
Retailers already have to report unusual transactions if they receive cash payments of more than 10 thousand euros. Halsema wants to lower that amount to 1 thousand euros. The mayor hopes that this will help in the fight against money laundering, which is often a companion to more serious crimes.
The Koninklijke Marechaussee arrested two men from France on the A16 highway in Hazeldonk for money laundering on Tuesday. One of them had 33 thousand euros in cash hidden in his underpants, the Marechaussee, a policing force that works as part of the Dutch military and is responsible for border security, said on Facebook.