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GLOBAL FIGHT AGAINST TERRORISM FUNDING

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February 5, 2019 » Today News

Dutch central bank warns Vivat to improve terrorism funding checks

Dutch central bank warns Vivat to improve terrorism funding checks

The Dutch central bank has warned life insurance group Vivat several times to improve client checks to rule out the financing of terrorism, the Financieele Dagblad said on Monday. Vivat, which owns the Reaal and Zwitsersleven brands, faces ‘sanctions’ unless it gets its house in order, the paper says.

The FD bases its claim on a copy of a letter sent to the insurance group by the central bank. The paper says Vivat has been warned several times but is still failing to properly check if its clients or their contacts are on on official sanctions lists.

The company told the paper in a reaction that it is making ‘maximum effort to comply with the rules and regulations’. Vivat’s Chinese owner Anbang said last year that Vivat may be put up for sale as part of a ‘strategic reorientation’.

Vivat was taken over by Anbang in 2015 following the nationalisation of SNS Reaal at the beginning of 2013.

Source: Dutch News

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