Netherlands: Government Issues Action Plan on Money Laundering

On July 1, 2019, the Dutch Ministry of Finance and the Ministry of Justice and Security presented an action plan on money laundering. The government proposes to amend the Money Laundering and Terrorist Financing (Prevention) Act (Wwft) to strengthen core obligations and to align the law with the Financial Action Task Force (FATF) international standards.

The government is planning on consulting with the industry in Summer 2019, with amendments to the law expected to come into effect on January 1, 2021.

The proposal provides measures on tackling money laundering and terrorist financing, including:

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