News

The Dutch government's settlement of criminal charges with a perfume exporter at the center of a €40 million money laundering scheme should serve as a warning for businesses across a range of non-financial sectors, a senior prosecutor told ACAMS moneylaundering.com. On July 24, the Netherlands Public Prosecution Service disclosed that Prestige Perfumes, a wholesaler of perfumes and cosmetics in Amsterdam, had agreed to pay the government €199,000 and appoint an "experienced" compliance officer after failing to prevent criminals from using the business to move and conceal tens of millions of euros over a six-year period. The company's executives must also...