Dutch banks join forces in fight against money laundering
10 Jul 2020

Dutch banks ING (INGA.AS), ABN Amro (ABNd.AS) and Rabobank said on Wednesday they would join forces in the fight against money laundering by sharing transaction data.

Together with the smaller Volksbank and Triodos Bank, the three largest Dutch banks said they would establish an agency to monitor all their transactions, potentially making it easier to detect unusual patterns of behaviour.

“In addition to the banks’ own responsibility as gate-keepers, effectively dealing with money laundering and the financing of terrorism requires a national approach”, the Dutch banking association NVB said.

By Bart Meijer, Reuters, 8 July 2020

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