On 30 August 2018, the Dutch Central Bank (De Nederlandsche Bank, DNB) notified financial institutions that it expects them to make the necessary amendments to their systems and procedures to comply with the implementation of the Fourth Anti-Money Laundering Directive (EU/2015/849) (Vierde anti-witwasrichtlijn, 4MLD) that came into force on 25 July 2018.

The main aspects as referred to by DNB are the rules relating to the enhanced due diligence requirements and the broader definitions of politically exposed persons (PEPs) and ultimate beneficial owners (UBOs).

The DNB is in the process of updating its guidance on the rules relating to the prevention of money laundering and financing of terrorism and sanctions. It expects to publish this updated guidance by the end of this year.

View DNB’s news item for banks (in Dutch only), 30 August 2018.

View DNB’s news item for insurers (in Dutch only), 30 August 2018.

View DNB’s news item for payment institutions (in Dutch only), 30 August 2018.

View DNB’s news item for trust offices (in Dutch only), 30 August 2018.