News

Netherlands Orders Banks to Flag Links to Blacklisted Russians

By Koos Couvée

The Dutch central bank has given banks, corporate services providers and other companies until Monday to disclose any accounts they hold or payments they may have handled for Russian parties blacklisted by the West following their country's invasion of Ukraine. De Nederlandsche Bank, or DNB, warned the financial services industry and other sectors in a statement Thursday that some institutions wrongly believe they only have to report such connections when they have frozen funds allegedly linked to entities or individuals subject to sanctions. "This is not correct," DNB said in the statement. "If institutions discover that the identity of a...

TO READ THE FULL STORY