On 31 August 2017, the Dutch Central Bank (De Nederlandsche Bank, DNB) published a transaction monitoring guidance document for banks (the Guidance Document).
Besides providing some legal background and the scope of the transaction monitoring rules, the Guidance Document also contains good practices with the aim to assist banks to design or improve their transaction monitoring process. The good practices are in part based on the results of DNB’s thematic investigation in 2016 into post-event transaction monitoring by banks. The Guidance Document also contains good practices specifically relating to transaction monitoring in relating to terrorism financing due to the continued increased terror threat at the time of the thematic investigation.
View the Guidance Document (Dutch only), 31 August 2017.