September 18 2019
Five of the biggest banks in the Netherlands are looking into the creation of a joint body to monitor payment transactions and fight money laundering.
ABN Amro, ING, Rabobank, Triodos Bank and Volksbank plan to spend the next six months looking into the technical and legal feasibility of a “transaction monitoring Netherlands” outfit.
The move comes in the wake of Dutch government promises of a tougher approach to money laundering. Around 16 billion euros of criminal money is estimated to be circulating in the Netherlands, most of which is connected to the drugs trade.
