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Dutch Parliament Slams Brakes on AML Reforms

By Koos Couvée

The Dutch House of Representatives delayed a vote on potentially high-impact anti-money laundering legislation until after a general election in November, potentially handing a major blow to sweeping reforms first proposed in 2019. The bill, or Money Laundering Action Plan, would ban cash payments of more than €3,000, require AML-regulated firms in the Netherlands to share know-your-customer information on high-risk clients with each other, and also enable banks to pool transactional data in a single database and outsource their payment-screening function to a third party. Dutch lawmakers approved a motion to declare the bill politically sensitive Tuesday, blocking debate on...

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