On 1 July 2019, the legislative proposal for the Bank Data Retrieval Portal Act (Wetsvoorstel verwijzingsportaal bankgegevens, the Proposal) was sent to the Dutch Parliament (Tweede Kamer).
The Bank Data Retrieval Portal (BDRP) is an electronic system that allows certain Dutch authorities, including but not limited to the police, the public prosecution service (Openbaar Ministerie, OM), the Netherlands Financial Intelligence Unit (FIU-NL) and the Dutch tax authority (Belastingdienst), to request certain client data that needs to be included in the BDRP by:
- banks and payment service providers offering bank accounts with Dutch international bank account numbers (IBANs); and/or
- banks offering safe-deposit boxes in the Netherlands.
The main reasons for introducing the BDRP are the desire from Dutch authorities for data to be shared and processed quickly as well as the requirement from the Fifth Anti-Money Laundering Directive (5MLD) to put such a system in place.
View the Proposal (Dutch only), 1 July 2019.
