Amsterdam's Mayor Femke Halsema raises concerns about the Netherlands' drug crisis, urging a policy shift to prevent a 'narco-state' future.
Don’t risk your business.
Danske Bank was fined €1,820,000 by the Central Bank of Ireland on 13 September for three violations of the Criminal Justice (Money Laundering & Terrorist Financing) Act 2010 (CJA).
The Dutch government pursues an approach that recognizes that the usage of illicit substances is an unavoidable part of life in today's culture and embraces this reality. The official responses are geared on mitigating the damage done to individuals and the community. The amended Opium Act of 1976 serves as the foundation for the nation's drug policy.
Europe, which has many wealthy countries, has become a favorite of money laundering criminals, especially with the development of technology in recent years.
At the last general assembly meeting of the FATF, which was held with delegates from more than 200 jurisdictions between 14-17 June 2022, the sanctions to be applied to Russia, the evaluation of Germany and the Netherlands were discuss.
According to the Money Laundering and the Financing of Terrorism (Prevention) Act (Wwft), the Financial Intelligence Unit-Netherlands is the authority to report suspicious transactions for organizations that are obliged to report.
The Netherlands is a country that has money laundering risks. Therefore, the Netherlands has comprehensive Anti-Money Laundering legislation.
The Netherlands has a considerable risk of money laundering and terrorist financing. You can find basic information about its compliance framework in this blog.
ABN AMRO, ING, de Volksbank, Triodos Bank, and Rabobank decided to establish Transaction Monitoring Netherlands (TMNL).