Netherlands The Netherlands

New Documents

The Fiscal Information and Investigation Service of the Netherlands announced that a man was arrested on suspicion of fraud, embezzlement and money laundering linked to the operation of the alleged gambling platform ZKasino.

The Dutch Authority for the Financial Markets announced that cryptoassets service providers, or CASPs, can commence submission of their license applications starting on April 22, 2024.

News

Enforcement Actions

The central bank of the Netherlands penalized the St. Julians, Malta-based crypto-services company for failure to register with the regulator.

De Nederlandsche Bank imposed an administrative fine of €3,325,000 on the Dublin, Ireland-based crypto services company for failing to register with the regulator as required under the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act.


Important Facts

  • The U.S. State Department classifies the Netherlands as a major money laundering country. The Netherlands is a major trade and financial hub and is  consequently an attractive venue for money laundering linked to criminal activities such as the sale of drugs, fraud, tax evasion, and drug trafficking. These illegal activities largely contribute to the jurisdiction's domestic money laundering activity.  Additionally, there are syndicates linked to organized crime and money laundering which is exacerbated by few border controls within the Schengen Area of the European Union. Additionally, these syndicates increasingly use the internet and virtual currencies to further their illicit activities. Hawala-style underground remittance systems operate as well. Bonaire, St. Eustatius, and Saba are special municipalities of the Netherlands. Aruba, Curacao, and St. Maarten are countries within the Kingdom of the Netherlands. The Netherlands provides supervision for the courts and for combating crime and drug trafficking within the Kingdom.
-Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 10 High : 2
Largely Compliant : 28 Substantial : 5
Partially Compliant : 2 Moderate : 4
Non-Compliant : 0 Low : 0

BASEL i

Rank : 101/141
Score : 4.56/10

TRANSPARENCY INTERNATIONAL i

Rank : 8/179
Score : 82/100

Tax Justice Network i

Rank : 8/133
Score : 67/100