Dutch officials have hit pause on sweeping anti-money laundering reforms first proposed five years ago after the EU adopted a regulation that will harmonize the application of AML rules across the bloc from 2027 onwards. On April 16, Dutch Finance Minister Steven van Weyenberg announced in a letter to lawmakers that his government will move forward with a proposal to ban single payments of more than €3,000 in cash, but shelve other aspects of legislation first pitched in 2019, the Money Laundering Action Plan, to assess their compatibility with the forthcoming EU rules. Van Weyenberg's decision in practice pulls the...
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.
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