ABNAMRO Bank has just announced that it will also compensate customers for damage caused by spoofing fraud in specific cases of "gross negligence". Until now, this bank has been stricter in assessing fees requested than the other banks. In spoofing fraud, a scammer takes possession of a victim's bank balance by calling the bank's unique number, giving the scammer the confidence that it is a real bank employee who is calling. Spoofing is technically still [...]
It regularly happens that international fraud is committed with the help of a Dutch bank account, which is used to receive and pass on money. What does this form of fraud look like and what can be done about it? International invoicing fraud Several parties are involved in this form of fraud. In the first place, a party that trades with another party. For example: an Italian company does business with a company in Great [...]
A money mule or “money mule” is a person who makes his checking account available to a criminal to receive and transfer criminal loot. If the criminal approaches the money mule, the crime (in which the bank account of the money mule plays a central role) has yet to be committed. The damage can be high.
The term empty shell stems from the financial world. It can relate to securities (such as, for instance, trackers or bonds) that do not have a countervalue approaching the nominal value or official exchange rate because the deposit on issue has not flowed into the capital of the issuing entity. Special purpose vehicle An example from legal practice of an empty shell is a bond loan that is not fully paid up by the enterprise [...]
ING has been fined by the Public Prosecution Service because the bank does not act properly against money launderers. Criminals who transfer money through ING are not dealt with properly by the bank. There are many developments in the field of money laundering, mainly due to new technological possibilities. De Nederlandsche Bank (DNB) not only supervises the stability, but – in keeping with the spirit of the times – also the integrity of the financial [...]
Dutch entrepreneurs can set up a foreign legal entity such as the English "Limited" (Ltd.) with which they are only active in the Netherlands. Sometimes it concerns entrepreneurs with a history of fraud or bankruptcy, who - not for the first time - do not fulfill their obligations. What if you have money from such a limited and the company does not pay? Can you go to the Dutch court to file for bankruptcy or do you have to conduct expensive proceedings abroad?