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Transaction Monitoring Netherlands: a unique step in the fight against money laundering and the financing of terrorism

Five Dutch banks (ABN AMRO, ING, Rabobank, Triodos Bank and de Volksbank) have decided to establish Transaction Monitoring Netherlands (TMNL) in the collective fight against money laundering and the financing of terrorism. The TMNL initiative will be an addition to the banks’ individual transaction monitoring activities. TMNL will focus on identifying unusual patterns in payments traffic that individual banks cannot identify. The shareholder agreement was signed today.

Banks’ support to businesses increases to 17 billion euros in reaction to corona crisis

Since the Corona crisis outbreak in March, the Dutch banks have, in addition to the support package by the government, offered temporary financial relief to around 180,000 entrepreneurs and consumers. A total of 15.2 billion euros has been made available (an increase from 12.8 billion two weeks ago) through the postponement of repayments and the provision of additional credit to companies. The details are displayed in the factsheet published today by the Dutch Banking Association (NVB).

Wim Mijs, Chief Executive Officer EBF

“Only a European approach to money-laundering can turn the tide”

The current approach to financial crime leaves criminal networks too much leeway to operate. Only a European approach to money laundering can make the tide turn. An interview with Wim Mijs, Chief Executive Officer of the European Banking Federation, about the urgency of addressing the regulatory fragmentation and improving data-sharing.

Fighting Money Laundering

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Dutch Banking Association (Nederlandse Vereniging van Banken)

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Q and A Common Reporting Standard and your personal or business tax residence

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FATCA

The Foreign Account Tax Compliance Act (FATCA) is the American law that combats tax evasion by American taxpayers worldwide.

Interest rate benchmarks: what are the developments?

Due to market developments and European legislation, the financial sector - together with the supervisors - must work hard on reforming interest rate benchmarks, such as LIBOR, EURIBOR and EONIA. As a ...

Ondernemen & Financieren

Opening a business account in the Netherlands

Are you an entrepreneur from abroad, planning to start doing business in the Netherlands and becoming active here? Then you require a business (IBAN) account. Has the Netherlands Foreign Investment ...

Financial crime cross border - Action plan

The Dutch Banking Association (NVB) presented a plan consisting of 15 action points for an international public-private approach to financial crime.

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Measuring climate impact: how do banks do that?

On the fourth Thursday of October, it was National Climate Day in the Netherlands. Not just the day on which the Dutch cabinet reflects on climate policy. But also the day of the publication of ...

Conducting banking activities in the Netherlands by non-EU banks

Banks that don’t have their seat in the EU (Non-EU Banks) that wish to do business in the Netherlands have several options to enter the Dutch market. At this page a memo with a brief overview of these ...

Dutch banks join forces to combat money laundering

Five Dutch banks (ABN AMRO, ING, Rabobank, Triodos Bank and de Volksbank) have taken an important step towards cooperation in the fight against money laundering. The ambition is to set up an ...

50 financial institutions sign up for climate goals

Today, July 10, around 50 banks, insurers, pension funds and asset managers and their umbrella organisations have committed to the Cabinet’s climate goals. In the presence of Minister of Finance, Mr ...

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