On 31 March 2016, the Dutch Central Bank (De Nederlandsche Bank, DNB) announced that it will launch an thematic investigation into transaction monitoring.

Transaction monitoring allows financial institutions to identify and report unusual transactions and transactions with a heightened risk of money laundering or terrorist financing. DNB indicates that in its investigation it will focus on certain aspects, which include, but are not limited to whether:

  • the risk profile of the client is sufficiently assessed in order to detect unusual transactions;
  • the tasks, competences and responsibilities in respect of the transaction monitoring of a financial institution are properly recorded and complied with; and
  • unusual transaction are reported directly to the Dutch Financial Intelligence Unit.

View DNB’s new item on its thematic investigation into transaction monitoring (Dutch only), 31 March 2016.