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DNB imposes order subject to penalty on an enterprise for failing to provide information
De Nederlandsche Bank N.V. (DNB) has imposed an order subject to penalty on the enterprise because the enterprise failed to cooperate with DNB’s request for information in a timely manner.
Non-compliance
DNB requested and most recently demanded information from the enterprise on three occasions in order to determine whether or not the enterprise was offering crypto services without registration in non-compliance with Section 23c(3) of the Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financieren van terrorisme – Wwft). When the enterprise failed to respond, DNB determined that the enterprise had failed to comply with the statutory duty to cooperate under Section 5:20(1) of the General Administrative Law Act (Algemene wet bestuursrecht – Awb). DNB therefore imposed an order subject to penalty on the enterprise on 12 August 2022, giving the enterprise 10 working days to comply with DNB's request for information.
The enterprise submitted the requested information to DNB on 16 September 2022, forfeiting €20,000 in penalties. The enterprise has since paid the incurred penalties.
Based on the information that the enterprise submitted, DNB found that the enterprise does not offer crypto services to customers in the Netherlands and therefore did not breach the Wwft.
The decision was not appealed, making it irrevocable.
Read the anonymised decision on imposing an order subject to penalty below. For further information, please contact DNB's Information Desk: 0800 - 020 1068 (free of charge)
Besluit tot het opleggen van een last onder dwangsom aan Onderneming