Dutch banks join forces to fight money-laundering

To further help the fight against money-laundering, Dutch banks ABN AMRO, ING, Rabobank, Triodos Bank and Volksbank will explore the possibilities of setting up a joint organisation to monitor payment transactions: Transactie Monitoring Nederland ("transaction monitoring Netherlands").

The banks will use the six months ahead to review various factors, including whether a joint organisation to monitor payment transactions is technically feasible, and what legal issues could arise. Like the other major banks, in its role as a gatekeeper of the financial system, ABN AMRO is already making every effort to identify movements of criminal funds. However, since money-laundering can only be combatted effectively through measures at the national level, the banks support the Money-Laundering Plan of Action presented two months ago by Ministers Hoekstra (Finance) and Grapperhaus (Justice and Safety).

Kees van Dijkhuizen explains, "Preventing money-laundering and terrorist financing is one of our top priorities. I'm very pleased that we're taking the first step, together with the other banks, towards potentially setting up an organisation to monitor payment transactions. This is a key development in protecting the integrity of the Dutch financial system."