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ARTICLE · 17 MARCH 2014

DNB 2014 Guidance On Money Laundering, Terrorism Financing And Sanctions

De Brauw Blackstone Westbroek
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The Dutch Central Bank recently published its updated guidance on money laundering, terrorism financing and sanctions.

NetherlandsGovernment, Public Sector
Richard Van Staden Ten Brink
Richard Van Staden Ten Brink
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The Dutch Central Bank recently published its updated guidance on money laundering, terrorism financing and sanctions. The guidance, though not legally binding, explains key topics such as client due diligence and monitoring processes, clarifies DNB's interpretation of the relevant laws and outlines what it expects of supervised companies regarding compliance. This 2014 guidance is highly relevant for institutions supervised by DNB as well as pension funds and other insurers subject to supervision under the Sanctions Act.

The Dutch Central Bank (DNB) first published its guidance on sanctions legislation to prevent money laundering and terrorism financing in 2011. This guidance was aimed at implementing recommendations of the Financial Action Task Force.

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