Anti-Money Laundering Policy

The Netherlands presented a plan to deal with money laundering in 2019. This plan sets out a range of measures to improve the approach to anti-money laundering. Two of the measures from this action plan are part of the Dutch Recovery and Resilience Plan. The objective of these reforms is to strengthen the Netherlands’ anti-money laundering framework and to combat the misuse of the Dutch financial system by criminals. 

The Financial Intelligence Unit, which is responsible for preventing and detecting money laundering, fighting against fraud and trace financing of crimes, is currently in the process of being reinforced with 20 full-time equivalents compared to January 2022. Moreover, a new law has been sent to parliament  that introduces a limit on cash payments of EUR 3,000 (entry into force foreseen for 1 January 2025).

These reforms are part of a bigger action plan that the Netherlands has put forward to combat money laundering. The actions focus on three areas:

1. Increasing barriers for criminals to launder money (examples: investment in projects targeting criminal financial flows and crypto-assets, the introduction of a national limit on cash payments above EUR 3,000);
2. Increase the effectiveness of the gatekeeper function and supervision (examples: data sharing and joint processing by financial institutions, establishment of a Serious Crime Taskforce that shares information on money laundering subjects between detection bodies and large banks)
3. Strengthen investigation and prosecution (examples: development of the bank account data reference portal with balance and transaction data, additional capacity for the Tax Intelligence and Investigation Service, as well as the Financial Intelligence Unit and the Public Prosecutor’s Office)

More information can be found at the links below:

• Wetsvoorstel Plan van aanpak witwassen | Nieuwsbericht | Rijksoverheid.nl
• FIU - the Netherlands | FIU-Nederland