Financial Crime World

Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Regulations in the Netherlands

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The Netherlands has implemented various regulations to prevent money laundering and terrorist financing. This article discusses the key points of these regulations, focusing on the supervision of financial institutions by the Dutch Central Bank (DNB).

Sanctions Act

  • The Sanctions Act implements international sanctions rules from the United Nations (UN) and the European Union (EU).
  • It aims to prevent undesirable behavior.

Wire Transfer Regulation 2 (WTR 2)

  • WTR 2 improves the traceability of information accompanying transfers of funds.
  • This contributes to the prevention, detection, and investigation of money laundering and terrorist financing.

Act on the Supervision of Trust Offices 2018 (Wtt)

  • The Wtt regulates the trust sector to protect the financial system’s integrity.
  • It imposes requirements on trust offices regarding operational management and internal controls.

Pensions Act (Pw)

  • Integrity risk management at pension funds is enshrined in the Pw.
  • Pension funds must structure their organization to safeguard sound and ethical operational management.

Regulation Implementing the Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft)

  • This Regulation uses the option provided by the Wwft to lay down further rules for its implementation.

DNB Guideline on the Wwft and the Sanctions Act

  • The Guideline clarifies statutory obligations arising from the Wwft, the Sanctions Act, the WTR2, and the GDPR.
  • It provides compliance tools for financial institutions supervised by DNB.

European Banking Authority (EBA)

  • The EBA contributes to protecting the financial system against money laundering and terrorist financing.
  • It issues guidelines and recommendations to competent authorities, banks, and other financial institutions covered by the Fourth Anti-Money Laundering Directive (AMLD4).

Financial Action Task Force (FATF)

  • The FATF tackles money laundering and terrorist financing internationally.
  • It sets standards that member countries, including the Netherlands, must comply with.