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Dutch Officials Prioritize AML Upgrades, Bankers Question the Details

By Koos Couvée

Dutch lenders have broadly welcomed government plans for tackling illicit finance and weakening the presence of organized crime in the Netherlands but called on officials to strengthen their proposals for enhancing interbank intelligence sharing. Public concern over the financial clout of drug trafficking organizations, new incidents of police corruption and an ongoing criminal investigation into ABN Amro, the Netherlands' third-largest lender, for violating anti-money laundering rules, propelled financial crime to the top of the political agenda last year. In a Jan. 14 letter, Finance Minister Wopke Hoekstra told lawmakers that combating money laundering through a national plan agreed in June...

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