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LATEST: Netherlands ban on cash transactions over €3,000 comes into force

Premium January 5, 2026

Dutch Finance Minister Eelco Heinen

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By PAUL O’DONOGHUE, Senior Correspondent

BUSINESSES in the Netherlands may no longer accept cash payments of €3,000 or more.

The move became effective as of January 1, 2026. The ban does not apply to transactions between private individuals.

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NEWS: US lawmakers move to cut funding related to anti-drug agency OCDETF

NEWS: Luxembourg fines Japanese lender Rakuten Bank for AML failings

ANNOUNCEMENT: Top AFC leaders confirmed as speakers for ‘European Anti-Financial Crime Summit 2026,’ Dublin, April 29

Regulatory Watch News

  • FCA fines former finance directors of Carillion plc (in liquidation)

    Financial Conduct Authority

    The FCA has fined 2 former finance directors for their part in misleading statements being issued by Carillion plc.
    Richard Adam and Zafar Khan were both aware of serious financial troubles in Carillion’s UK construction business but failed to reflect this in company announcements or alert the Board and audit committee, leading to poor oversight. Mr Adam and Mr Khan have been fined £232,800 and £138,900, respectively. The fines were imposed after Mr Adam and Mr Khan withdrew their challenges to the FCA’s decision. As finance directors, the pair had responsibility for Carillion’s procedures, systems and controls relating to financial reporting. These were not sufficient to ensure that contract accounting judgments made in its UK construction business were made, recorded and reported appropriately.

  • Scam alert related to banks

    HKMA

    The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press releases issued by the banks listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which have been reported to the HKMA.  Hyperlinks to the press releases are available on the HKMA website.  

           Bank        Type of Scam
    The Bank of East Asia, Limited Fraudulent websites and internet banking login screens
    Shanghai Commercial Bank Limited Fraudulent websites and internet banking login screens
    Chong Hing Bank Limited Fraudulent website and internet banking login screen
     

  • SFC reprimands and fines Saxo Capital Markets HK Limited $4 million for regulatory breaches over distribution of virtual asset-related products

    Securities and Futures Commission

    The Securities and Futures Commission (SFC) has reprimanded and fined Saxo Capital Markets HK Limited (SCMHK) $4 million for failures in distributing virtual asset (VA) funds not authorised by the SFC and VA-related products (collectively, VA Products) on the firm’s online trading platform (Online Platform) . Between 1 November 2018 and 25 November 2022 (Relevant Period), SCMHK allowed retail clients to trade certain VA Products on the Online Platform. These products should only be offered to professional investors (PIs) according to two SFC circulars to intermediaries which were effective at the material time

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