Strengthening Financial Intelligence Units in the Fight Against Money Laundering

Dutch Government Unveils Plan to Enhance Anti-Money Laundering Framework

The Dutch government has presented an action plan aimed at improving its approach to anti-money laundering, with two key measures part of the country’s Recovery and Resilience Plan. The goal is to enhance the Netherlands’ anti-money laundering framework and prevent criminals from misusing its financial system.

Key Measures

• Reinforcing the Financial Intelligence Unit (FIU): Since January 2022, the FIU has been reinforced with 20 full-time equivalents, responsible for preventing and detecting money laundering, fighting fraud, and tracing crime financing.
• Limit on Cash Payments: A new law sent to parliament introduces a limit on cash payments of EUR 3,000, set to take effect from January 1, 2025.

Broader Action Plan

The Netherlands’ broader action plan to combat money laundering focuses on three key areas:

Pillar 1: Increasing Barriers for Criminals

• Investing in projects targeting criminal financial flows and crypto-assets
• Introducing a national limit on cash payments above EUR 3,000

Pillar 2: Enhancing Gatekeeper Functions and Supervision

• Increasing data sharing between financial institutions and detection bodies
• Establishing a Serious Crime Taskforce for information sharing
• Enhancing the gatekeeper function

Pillar 3: Strengthening Investigation and Prosecution Capabilities

• Developing the bank account data reference portal with balance and transaction data
• Additional capacity for the Tax Intelligence and Investigation Service, the Financial Intelligence Unit, and the Public Prosecutor’s Office