Kingdom of the Netherlands-Netherlands: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

April 19, 2011

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Format: Chicago

Kingdom of the Netherlands-Netherlands: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2011) accessed December 22, 2024

Summary

The Netherlands has a long-standing legal framework concerning Anti-Money Laundering and Combating the Financing of Terrorism preventive measures, which dates back to 1993. The legal framework for Customer Due Diligence is generally adequate; however, a number of provisions are problematic. The Dutch system of preventive measures emphasizes the risk-based approach, complemented by a principles-based approach. The principles-based approach should be better supported with guidance for financial institutions. Although most elements of the Suspicious Transaction Report reporting requirements are in place, the reporting regime has one minor legal shortcoming and raises effectiveness concerns.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Beneficial owner, CR, Criminal offense, Drug trafficking, Due diligence, Europe, Financial institutions, Global, Investment company, ISCR, Legal support in revenue administration, Money laundering, Natural person, Penal code, Safe harbor provision, Statutory offense, Terrorism financing, Western Europe

Publication Details

Pages:

334
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/092
Stock No:

1NLDEA2011002
ISBN:

9781455230082
ISSN:

1934-7685

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