Wednesday 24 February 2021
Home ECB Dutch banks argue for EU criminal investigation against financial crime

Dutch banks argue for EU criminal investigation against financial crime

The Dutch Banking Association (NVB) has offered the European Union a plan with fifteen action points for a EU-wide control of money laundering and financial fraud. The plan includes proposals for a new central EU regulation, a European money laundering supervisor and a EU-wide Financial Intelligence Service.

The presentation of the Dutch banking plan is more or less in line with new fines imposed by Dutch Central Bank on Dutch banks because they have not yet carried out their checks.

At the beginning of this year, it was announced that Rabobank had been fined more than 1 million euros because the system with which the bank checks money laundering customers up to and including 2016 was not sharp enough. As a result, important information about customers could be missing, and the bank, for example, did not always know who owned a business.

If a client file ends up in the lowest risk category, a bank no longer has to worry about it. Customers in the middle risk category must be reassessed once every three years, and customers in the highest category must be reviewed annually by the bank.

If customers work in a sector with an increased risk - such as car dealership or real estate - they cannot end up in the lowest category. The same applies to people who also have bills in risk countries such as Malta, Russia or Angola.

According to the Rabo spokesperson, the processes within the bank are now in order, but it is now important to process all files according to this method. Whether the bank will meet the April 2020 deadline is unclear

Within EU, the Netherlands is a forerunner with the banks' plan to jointly monitor payment transactions. The NVB believes that the EU legislation should explicitly allow this cooperation between gatekeepers, so that the fight against money laundering can be improved.

Chris Buijink, chairman of the Dutch Banking Association, says a press release about this: “We believe that the current inadequate approach to combating financial crime also requires a strong European response. Financial crime is a cross-border problem that requires cross-border solutions, both at European and at global level. "


European Parliament urges EU ministers to tackle Poland and Hungary

The European Parliament is of the opinion that the EU governments should finally tackle the sleepers Poland and Hungary. The European Parliament and ...

European Commission blocks Austrian ban on glyphosate

As expected, the European Commission has blocked the Austrian government decision for a total ban on the use of glyphosate in the country -...

China is trying to further expand trade relationship with EU countries

Europe is visited this week by a heavy delegation from China. Wang Yi, China's Foreign Minister Makes A ...

Turnover from German farmers was almost everywhere a few percent lower last year

Turnover from German livestock, agriculture and horticulture fell by about four percent last year to 56.3 billion euros.

EU countries against Turkish invasion in Kurdish region in northern Syria

Turkey must stop its military operations in Syria, according to the European Union. European Commission President Jean-Claude Juncker calls on Ankara to hold back ...

Just in

Canadian slaughterhouse closed by corona; pigs for slaughter to the US

Canadian meat processor Olymel LP has closed the slaughterhouse in Red Deer, Alberta after a major corona outbreak among staff. Previous ...

Plea for place 'social rights' for seasonal workers in EU agriculture

European trade unions believe that the rights of seasonal workers in agriculture and horticulture should be legally incorporated into the new European ...

Bird flu H5N8 in Russia for the first time from animals to humans

At a poultry farm in the south of Russia, seven employees are infected with the bird flu variant H5N8. It is the first time...

EU starts lawsuit against Germany for evading habitat directive

The European Commission has taken Germany to the European Court of Justice for insufficient biodiversity. After years of warnings and reminders ...

Consultation of the Dutch in Morocco about phosphate, water and agriculture

A delegation from the Dutch embassy in Morocco paid a working visit to the Polytechnic University in Benguerir last week. That...