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Kingdom of the Netherlands-Netherlands: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 091
Language:
English
Publication Date:
19 Apr 2011
DOI:
https://doi.org/10.5089/9781455230099.002
ISBN:
9781455230099
ISSN:
1934-7685
Pages:
19
Keywords:
ISCR; CR; authority; financial institution; Netherlands; offense; authorities power; customer; proceeds; Customs authorities power; beneficial owner; due diligence; Kingdom of the Netherlands-Netherlands; predicate offense; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Terrorism financing; Money laundering; Europe
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund