Kingdom of the Netherlands-Netherlands: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
IMF Staff Country Reports, April 19, 2011
Source details
- Canonical URL
- Kingdom of the Netherlands-Netherlands: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
Other formats
Bibliographic details
- Published: April 19, 2011
- Series: IMF Staff Country Reports
Executive findings
- There is terrorism and terrorist financing (TF) risk, but it appears limited based on available information.
- The Netherlands has criminalized money laundering (ML) fully in line with the requirements under the Vienna and Palermo Conventions.
- The Netherlands has a long-standing financial intelligence unit (FIU), which is one the founding members of the Egmont Group of FIUs and enjoys high trust for its professionalism, both domestically and internationally.
- The suspicious transaction reporting requirement needs to be strengthened to ensure that suspicious transactions are reported promptly to the FIU.
Major thematic observations
- Legal framework
- ML is criminalized fully in line with the Vienna and Palermo Conventions.
- Financial intelligence and institutional capacity
- The FIU is long-standing and a founding member of the Egmont Group of FIUs.
- The FIU enjoys high trust for its professionalism domestically and internationally.
- Reporting and operational recommendations
- Strengthen the suspicious transaction reporting requirement to ensure prompt reporting to the FIU.
Subjects and keywords (as listed)
- Subjects: 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), authorities power, authority, beneficial owner, CR, customer, Customs authorities power, due diligence, Europe, financial institution, ISCR, Kingdom of the Netherlands-Netherlands, Legal support in revenue administration, Money laundering, Netherlands, offense, predicate offense, proceeds, Terrorism financing
International Monetary Fund. "Kingdom of the Netherlands-Netherlands: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism", IMF Staff Country Reports 2011, 091 (2011).