Wednesday 12 August 2020

Money launderers rarely end up in court

Only a handful of the tens of thousands of annual reports of suspected money laundering end up in court case because watchdog staff lack IT expertise. Some 155,000 cases of possible fraud were brought to the attention of the government’s Financial Intelligence Unit (Fiu) last year by banks, accountants and payroll offices, of which 39,000 were followed up by the prosecution office and the FIOD financial fraud unit. However, only a very small number actually went to court because the... More >

Dutch gov't invests in photonic chips

The Dutch government has invested €20m into Eindhoven company Smart Photonics to make sure the technology stays in the Netherlands, junior economic affairs minister Mona Keijzer has confirmed to MPs. The company produces chips which work on the basis of light rather than electricity, which means they can process data more quickly and use less energy. The investment will allow the company to scale up production, the company said in a statement. Smart Photonics had been looking for investment since... More >

Dutch start auction for 5G frequencies

The auction of 5G telecom frequencies kicks off in the Netherlands on Monday, but no-one knows how long the auction will take and the number of bidders is being kept secret. The previous auction, for 4G frequencies in 2012, raised €3.8bn and this auction is expected to raise far less than that – but the reserve price totals €900m. KPN, T-Mobile and VodafoneZiggo are among the bidders but whether or not any foreign telecoms firms are taking part is not... More >