The NetherlandsThe Dutch Ministry of Justice and Security signaled the allocation of additional funding from the government to combat subversive crime, including organized crime networks.
De Nederlandsche Bank, the central bank of the Netherlands, published its 2020 annual report, covering various supervisory and regulatory developments over the last year and its priorities for 2021.
Proposed EU €5,000 Cash Ban Would Have Uncertain, Uneven Impact
An EU-wide limit on cash payments of more than €5,000 could ease the ability of banks and other institutions to monitor and offload high-risk clients, but may not necessarily force criminals to rely on more traceable finances.
ING Executives Cleared of Violating ‘Banker’s Oath’ Over AML Failures
A disciplinary panel in the Netherlands has cleared former chief executive Ralph Hamers and 14 other senior managers of ING of violating the Dutch Banker’s Oath in relation to systemic anti-money laundering failures that the Amsterdam-based lender copped to three years ago.
The Netherlands Public Prosecution Service and the Amsterdam, Netherlands-based financial institution entered into a settlement that requires the bank to pay €480 million to resolve violations of the Anti-Money Laundering and Counter Terrorism Financing Act.
The Netherlands and the Amsterdam-based bank entered into a settlement agreement that requires the financial institution to pay a €675 million fine and disgorge €100 million to resolve a criminal investigation into violations of the Anti-Money Laundering and Counter Terrorism Financing Act.
| Technical | Effectiveness |
|---|---|
| Compliant : 6 | High : |
| Largely Compliant : 22 | Substantial : |
| Partially Compliant : 20 | Moderate : |
| Non-Compliant : 1 | Low : |
| Rank : 101/141 |
| Score : 4.56/10 |
| Rank : 8/179 |
| Score : 82/100 |
| Rank : 8/133 |
| Score : 67/100 |