Dutch bank ING Group NV said Tuesday that it agreed to pay a fine of €675 million ($782 million) and disgorge €100 million ($115 million) to resolve criminal investigations into lax business practices.… Continue Reading
Posts Tagged: The Netherlands
The Netherlands, a country well respected in many regards for its commitment to organized labor and workers’ rights, fails even to marginally protect a different class of vulnerable employee: the whistleblower.… Continue Reading
At a recent cryptocurrency workshop, financial investigators from the Interpol and Europol organizations from over 30 nations discussed measures to combat the misuse of cryptocurrencies by criminals.
This meeting was in response to the report released by Europol (with headquarters in the Hague, Netherlands) which stated (pdf) that more than 40 percent of online transactions for illegal ends used Bitcoin, crypto mixers, and tumblers. … Continue Reading
Dutch oil services company SBM Offshore NV agreed Wednesday to pay a criminal penalty of $238 million to resolve FCPA offenses in Brazil, Angola, Equatorial Guinea, Kazakhstan, and Iraq.
ING is under criminal investigation by Dutch prosecutors for money laundering and corruption in Uzbekistan, and authorities in the United States have also requested information from the bank.
In its annual report, ING said this week it is “the subject of criminal investigations by Dutch authorities regarding various requirements related to the on-boarding of clients, money laundering, and corrupt practices.”… Continue Reading
For many years the Dutch government lagged behind countries like the United States, the UK and Germany enforcing anti-corruption laws. But that has recently changed in a dramatic way.
Netherlands-based oil and gas services firm Frank’s International NV said in an SEC filing Monday that it’s conducting an internal investigation of certain foreign subsidiaries in West Africa for possible violations of the Foreign Corrupt Practices Act.… Continue Reading
I have never found a culture that truly endorses straight-up bribery. There may be no culture which actually teaches that a suitcase full of cash privately given to an official in exchange for a benefit to which the payor is not legally entitled is a good thing, one that we should not deter even if we could. … Continue Reading
The group of donors who contribute aid directly to Mozambique pledged $275 million in aid this week, a decrease from the $309 million given last year, citing concerns about corruption in the region.… Continue Reading
More than 77,000 foreign banks and other financial institutions agreed to share information about U.S. account holders with the Internal Revenue Service as part of a crackdown on offshore tax evasion, the Treasury Department said Monday.