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Transaction Monitoring Netherlands: A Novel Solution To The Banking Industry s AML Puzzle? - Government, Public Sector

To print this article, all you need is to be registered or login on Mondaq.com. Transaction Monitoring Netherlands (TMNL), a novel collective monitoring initiative designed to counter sophisticated money laundering and terrorism financing activity in the Netherlands, is set to become operational in 2021. Born out of a series of roundtable discussions hosted by the Dutch central bank (DNB) in 2017 and 2018, TMNL is a first-of-its-kind private company established by the five largest Dutch banks ING, ABN Amro, Rabobank, Triodos Bank, and de Volksbank (the Founding Banks ). TMNL will work closely with Dutch financial regulators and law enforcement agencies to curb money laundering

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