The European Commission has published proposals to strengthen rules against money laundering and terrorist financing. The proposals entail:
- a Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing
- a Regulation on information accompanying transfers of funds
These proposals are in line with the recommendations of the Financial Action Task Force. The recommendations were implemented in the Netherlands on 1 January 2013 by an amendment of the Act on the Prevention of Money Laundering and Terrorist Financing.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
