Consultation Action Plan on Money Laundering
On 2 December 2019, the Minister of Finance and the Minister of Justice and Security have submitted their Money Laundering Approach Plan (the Plan) for public consultation (link, Dutch only). In the Plan, reference is made to the following:
“The act contains, in short, three measures. The first measure bans cash payments from EUR 3,000 and onwards. The second measure makes it possible for institutions (e.g. banks), which have a legal obligation to monitor transactions, to exchange data more easily with each other. The third measure ensures that institutions that must comply with the Wwft can share information with each other when there are signs of integrity risks with respect to their clients. ”
Market participants have until 14 January 2020 to respond to the consultation.