FATF

De Financial Action Task Force (FATF) published an assessment report on 24 August 2022 about the Dutch policy regarding the tackling of money laundering, terrorism financing and the financing and spreading of weapons of mass destruction.

According to FATF, the Netherlands has made substantial progress over the last few years in the tackling of money laundering and the financing of terrorism. The financial taskforce considers the Dutch approach a vigorous system and it views the domestic cooperation and coordination at a policy level and at an operational level to be key qualities. The system is well ahead in its public-private cooperation and data sharing for the purpose of combating of money laundering practices and the financing of terrorism.

At the same time, FATF has some recommendations. The taskforce finds that the Netherlands must make more efforts to prevent legal entities from being misused for criminal purposes. In addition, FATF proposes the improvement of the compliance with the Money Laundering and Terrorist Financing (Prevention) Act (Wet ter voorkoming van witwassen en financieren van terrorisme or Wwft) by non-financial professional groups such as civil-law notaries, lawyers and traders including the supervision.