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Five Dutch banks partner to fight against money laundering

Friday 10 July 2020 10:28 CET | News

ING, ABN Amro, Rabobank, Triodos Bank and Volksbank have teamed up to establish Transaction Monitoring Netherlands (TMNL) initiative to fight against money laundering and terrorism financing.

TMNL will be an addition to the individual transaction monitoring activities of the five Dutch banks. Therefore, it will identify unusual payment patterns, which cannot be identified by the banks individually.

On a national level, collective transaction monitoring requires a chain approach, that is, from identification to detection, prosecution, and conviction of criminality. Because of this, the banks are working closely with government partners such as the Ministries of Finance and Justice and Security, the FIOD, and the Financial Intelligence Unit (FIU).


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Keywords: banks, partnership, money laundering, ING, ABN Amro, Rabobank, Triodos Bank, Volksbank, Transactions Monitoring Netherlands, TMNL, terrorism financing, payments, transactions, Ministries of Finance and Justice and Security, FIOD, Financial Intelligence Unit, FIU
Categories: Banking & Fintech | Digital Identity, Security & Online Fraud
Countries: Netherlands
This article is part of category

Banking & Fintech