The Dutch Central Bank has confirmed that Erez Corporate Service B.V. must pay EUR 100,000 after failing to remedy breaches of the Trust Offices Supervision Act 2018 within the six-month period set by an April 2024 enforcement order. Erez must still correct the violations. The order is final after the company withdrew its appeal. The deficiencies concerned Erez’s systematic integrity risk analysis, procedural manual and customer due diligence. Its controls did not adequately address risks associated with its services and customer portfolio, including transaction monitoring and customer risk classifications. The Dutch Central Bank also found insufficient due diligence in every customer file examined, including failures involving integrity risks, the legitimate source of assets held by target companies and ultimate beneficial owners, and the purpose of corporate structures.
2026-09-17De Nederlandsche Bank
Dutch Central Bank confirms Erez Corporate Service must pay EUR 100,000 for unremedied trust office breaches
The Dutch Central Bank has confirmed that Erez Corporate Service must pay EUR 100,000 after failing to remedy trust office compliance breaches within six months. The deficiencies covered integrity risk controls, procedures and customer due diligence, and the enforcement order is now final after Erez withdrew its appeal.