Tag: Anti-Money Laundering

Regulatory Watch News

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  DNB apologises for its historical links to slavery

  DeNederlandsche Bank

  July 1, 2022

  De Nederlandsche Bank (DNB) apologises for its role in the Atlantic trade in enslaved people in the nineteenth century. DNB is also taking measures to help reduce the repercussions of the legacy of slavery for those directly affected to this day. The measures involve funding for projects and initiatives in the Netherlands, Suriname and the Dutch Caribbean. DNB is offering apologies and taking these measures after several months spent reflecting on the scholarly study into its historical links to slavery and following many conversations with people who have a voice in the contemporary debate on this topic. An internal and external focus group provided support in this process.

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  OLAF helps dismantle criminal network involved in the illicit trade of refrigerant gases

  OLAF

  July 1, 2022

  The European Anti-Fraud Office (OLAF) has taken part in a Joint Operation, which dismantled a sophisticated Spain-based criminal network involved in the illicit import, and trade of, refrigerant gases. Operation Marum, carried out jointly by the Guardia Civil, Agencia Tributaria (Tax Agency), Europol and OLAF, led to the arrest of 27 people (including the leaders of the organisation) and the seizure of 110 tonnes of different types of harmful gases, valued at €11 million.

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  Wolverhampton man to pay National Crime Agency £110,000

  National Crime Agency

  July 1, 2022

  A man from Wolverhampton has agreed to pay the National Crime Agency £110,000 following a Civil Recovery and Tax investigation into his property dealings. The Agency alleges that Kyle St. Clair, 32, funded the purchase of property through the proceeds of crime including tax evasion, money laundering and fraud. The NCA also asserted that St. Clair laundered criminal funds from tax evasion through the purchase of properties, and that he employed a laundering process involving the use of third parties in an attempt to conceal the fact that he was the true beneficial owner of the properties. Both properties were located in Wolverhampton, and included his residential address in Upper Penn.