5th October 2018
AP — April 12 was supposed to be another day on the job for Alexei Morenets, the balding 41-year-old alleged to be an on-site hacking specialist for Russian military intelligence. Morenets’ work for the agency, often abbreviated as GRU, was said to involve using specialized equipment… Read More
12th September 2018
Dutch banking group ING has announced that its chief financial officer will step down after it was fined €775 million (about $900m) for poor anti-money laundering controls, including client on-boarding and customer due diligence issues. CFO Koos Timmermans (pictured) was also a member of the Management Board Banking… Read More
6th September 2018
When Dutch prosecutors trawled through ING’s books they found a “women’s underwear trader” had been able to launder 150 million euros (135 million pounds) through the bank’s accounts without ringing alarm bells. “It should have been clear to the bank that the monetary flows had little to do with… Read More
5th September 2018
Dutch bank ING Groep will pay 775 million euros (about $900 million) in a settlement with the Dutch Public Prosecution Service (DPPS) over its poor anti-money laundering controls which in some cases allowed customers to launder cash for years. A DPPS investigation established ‘serious’ shortcomings at the lender, including that… Read More
26th June 2018
Denmark’s new business minister has signalled he will take a tough line on the country’s largest lender Danske Bank, describing its admission of past failings in anti-money laundering controls in Estonia as “a disgrace and a scandal.” Rasmus Jarlov was appointed by Prime Minister Lars Lokke Rasmussen on Thursday, after… Read More
21st June 2018
Police have nabbed scores of individuals they believe are partly responsible for over 20,000 fraudulent transactions worth over EUR8 million. The fraud was conducted by professional fraudsters, skilled in e-commerce fraud, who set up fake online shops and bought and sold credit card data on the dark web, said Europol. Read More
15th May 2018
The Dutch government said on Monday it had decided to phase out the use of anti-virus software made by Kaspersky Labs “as a precautionary measure” and was advising companies involved in safeguarding vital services to do the same. In a letter to parliament, Justice Minister Ferdinand Grapperhaus said the decision… Read More
2nd April 2018
Global accounting firm KPMG has suffered a major setback in its battle against liquidators of former U.S.-listed healthcare firm China Medical Technologies Inc, whose executives have been charged in the U.S. with defrauding investors out of over $400 million. The China Medical case is the most high-profile and closely watched… Read More
30th January 2018
The national tax office in the Netherlands said its website briefly went offline on Monday due to a DDoS cyber attack, after the country’s largest banks were targeted. ABN Amro and ING said they were both targeted by hackers, temporarily disrupting online and mobile banking services over the weekend. Read More
16th January 2018
Mark M. appeared in court on Monday to answer charges that he laundered €79,000 that he received for passing on information from confidential files. M. admitted that he had trawled police computers as a ‘hobby’ but denied selling the information to criminals. M. spent six years in police service… Read More
Must Read

EU states still divided over money laundering reform – sources

European Union states are still divided over an overhaul of rules for the supervision of banks against money laundering, two EU sources said on Wednesday. EU confidential documents show countries had agreed a preliminary common stance on the reform proposed by the European Commission in September which would give more… Read More

Former UBS trader jailed for Britain’s biggest fraud deported

Kweku Adoboli, a former UBS trader jailed for Britain’s biggest fraud over unauthorised trades that cost the Swiss bank $2.3 billion (1.7 billion pounds), has been deported to Ghana, his spokesman said. Adoboli was put on a commercial flight from Heathrow on Wednesday after being detained in Scotland earlier in… Read More