The Netherlands

New Documents

De Nederlandsche Bank NV, the central bank of the Netherlands, announced that it is considering experimenting with the development of a central bank digital currency.

De Nederlandsche Bank, the central bank for the Netherlands, published Working Paper 693, which analyzes the public’s trust in financial institutions.

News

Enforcement Actions

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.


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. 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: 2020 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical Effectiveness
Compliant : 6 High :
Largely Compliant : 22 Substantial :
Partially Compliant : 20 Moderate :
Non-Compliant : 1 Low :

BASEL i

Rank : 101/141
Score : 4.56/10

TRANSPARENCY INTERNATIONAL i

Rank : 8/180
Score : 82/100

Tax Justice Network i

Rank : 8/133
Score : 67/100