Financial Crime World

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EXECUTIVE SUMMARY

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The Netherlands has made significant progress in implementing anti-money laundering (AML) and combating terrorist financing (CFT) measures. However, there are still areas that require improvement to ensure the country remains compliant with international standards.

  • The Netherlands provides timely and constructive responses to mutual legal assistance (MLA) and extradition requests.
  • The quality of MLA is high, and properly prioritized.
  • Simplified procedures within the European Union enhance cooperation with EU member states, which account for the majority of the Netherlands’ MLA requests.

Risk and General Situation

The Netherlands has a large and globally interconnected financial system, making it vulnerable to money laundering (ML) and terrorist financing (TF). The country’s banking sector is highly concentrated, with three Dutch banks controlling 82% of the sector’s assets. Two of these banks have recently been part of a settlement with the Public Prosecution Service for significant AML/CFT failings.

Domestic Co-ordination and Cooperation

The Netherlands has robust domestic co-ordination and cooperation on AML/CFT issues at both policy and operational levels. The country leverages various platforms to facilitate public-public, public-private, and private-private partnerships to coordinate on AML/CFT and counter proliferation financing (CPF).

However, there are areas that require improvement, such as:

  • Inconsistent exemptions with the BES Islands’ risk profile
  • Limited information in the National Risk Assessment (NRA) documents
  • Room for improving risk understanding by including more relevant information

Conclusion

Overall, the Netherlands has made significant progress in implementing AML/CFT measures. However, there are still areas that require improvement to ensure the country remains compliant with international standards.

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