The NetherlandsSteven Maijoor, executive director of supervision at Netherlands Bank, delivered a speech at a symposium in London where he emphasized that the unique risks of cryptocurrencies, such as their pseudonymity and high levels of information asymmetry, require enhanced regulatory scrutiny.
The Netherlands’ central bank published a study analyzing the opportunities and risks presented by crypto-assets and advancing policy considerations for their effective regulation, supervision, and enforcement.
Mexico authorizes U.S. seizure of drug kingpin’s assets, German FIU faces new STR backlog, and more, in the weekly roundup.
IRS investigations division seized billions of dollars of cryptocurrency, British socialite declares himself too flamboyant to be a financial crook, and more, in the weekly roundup.
Dutch Panel Defends Artificial Intelligence-Boosted AML Program
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 : 10 | High : 2 |
| Largely Compliant : 28 | Substantial : 5 |
| Partially Compliant : 2 | Moderate : 4 |
| Non-Compliant : 0 | Low : 0 |
| Rank : 101/141 |
| Score : 4.56/10 |
| Rank : 8/179 |
| Score : 82/100 |
| Rank : 8/133 |
| Score : 67/100 |