Netherlands: Banks struggle to recruit staff to check for money laundering

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In effort to strengthen their compliance departments in line with the fight against money laundering, the Dutch banks are desperately recruiting experts, as well as school leavers with no experience with an offer of 3,000 euros plus ‘a focus on personal growth’, said Financieele Dagblad on Friday. However, the efforts of recruitment firms seem unproductive as most of the junior level ‘customer due diligence’ are inactive.

The paper stated that Robobank, one of the popular banks, has developed its own CDD academy to facilitate effective training and coaching. Banks are also currently recruiting from other countries like England, Spain, and Eastern Europe. Erik Schut of Interim Management consultancy Eiffel told the paper that there is currently no serious alternative to the growing efforts to recruit new staff.