Regulatory Alerts2022-09-16
Added · Updated
Guideline on the Anti-Money Laundering and Anti-Terrorist Financing Act and the Sanctions Act
This guideline establishes operational management standards for institutions supervised by De Nederlandsche Bank (DNB), including banks, crypto service providers, and insurers, to ensure compliance with the Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft) and the Sanctions Act (Sw). It mandates the implementation of a systematic integrity risk analysis, ethical operational management, and regular staff training on money laundering and terrorist financing risks. The document outlines specific obligations for customer due diligence, transaction monitoring, sanctions screening, and the reporting of unusual transactions to the Financial Intelligence Unit.