The Netherlands

New Documents

The 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.

News

Enforcement Actions

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.


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

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 : 8/179
Score : 82/100

Tax Justice Network i

Rank : 8/133
Score : 67/100