The Netherlands
Regulatory framework
Introduction
The Netherlands, following in the footsteps of its European counterparts, owes its regulatory heritage in the area of money laundering prevention to the work done by European Directives in this field. Its main regulation in this area is the Wet ter voorkomIng van witwassenen financieren van terrorisme; and to this can be added the various decrees that help implement the regulation.
Financial Intelligence Unit
The Netherlands also includes within its institutional landscape the figure of the Financial Intelligence Unit. FIU-Nederland is based on the prevention regulations to carry out its functions in the entire territory of the Netherlands.
Links of interest:
Obligated subjects
The legal regime of the Netherlands in terms of prevention of money laundering and financing of terrorism identifies certain individuals and entities as obliged subjects based on their economic activity.
Among these subjects are credit institutions and banks, insurance companies, cryptocurrency trading portals, property valuation companies and those involved in the trade of jewellery, metals and precious stones, as well as lawyers and notaries.
Links of interest:
> PEPs
Introduction
The regulatory framework for politically exposed persons in the Netherlands is provided by the Prevention Law and an implementing Decree —Uitvoeringsbesluit Wwft 2018—. In addition, the list issued by the European Commission applying Article 20 bis of Directive 2015/849 must be taken into account.
Links of interest:
Definition of PEP
The legal system of the Netherlands considers the following positions as politically exposed persons:
- The King; the Prime Minister, the ministers and the State Secretaries.
- The members of the Senate and the members of the House of Representatives.
- The members of the executive management of a political party.
- The members of the Administrative Jurisdiction Division of the Council of State, the members of the Supreme Court of the Netherlands, the members of the Trade and Industry Appeals Tribunal, and the judges of the Central Appeals Chamber.
- The members of the Court of Audit of the Netherlands, as well as the chairman and the directors of the executive committee of the Central Bank of the Netherlands.
- The ambassadors, chargés d'affaires and high military personnel.
- The members of the management, direction or supervision body of a public company.
- The directors, deputy directors and the members of the board of an international organisation.
Links of interest:
Duration of PEPs
When politically exposed persons have ceased to perform their duties, the obligated subjects will continue to apply the measures provided for this type of clients for a minimum period of one year.
Links of interest:
> Sanctioned
Introduction
The Government of the Netherlands publishes a list of subjects and entities linked to acts of terrorism, with the purpose of freezing their funds and assets, thereby preventing the financing of terrorism.
Such a list is issued by the Ministry of Foreign Affairs, also taking into consideration the views expressed by the Ministry of Justice and Finance of the Dutch Government, all under the auspices of Resolution 1373 of the United Nations Security Council and the national law of the Netherlands.
Links of interest:
Included lists
PEPs
- Government of the Netherlands, Rijksoverheid
- Rijksoverheid (Government of the Netherlands) - Members
- Tweede Kammer der Staten-Generaal - Members
- Raad van State - Members
- De Hoge Raad der Nederlanden - Members
- De Rechtspraak - Members
- De Algemene Rekenkamer - Members
- De Nederlandsche Bank - Members
- Ministerie van Defensie - High ranking officers
- Rijksoverheid (Government of the Netherlands) - Ambassadors
- Volkspartij voor Vrijheid en Democratie (Official website)
- Socialistische Partij (Official website)
- Staatkundig Gereformeerde Partij (official website)
- Partij voor de Dieren (official website)
- Partij van de Arbeid (official website)
- Onafhankelijke SenaatsFractie (official website)
- Groen Link (official website)
- Forum voor Democratie (official wesbsite)
- Group Otten (official website)
- 50Plus Partij (official website)
- Web del Partido Christen Unie (official website)
- Christen-Democratisch Appèl (official website)
- Web del Gobierno de Países Bajos
- Website van het Koninklijk Huis van Nederland
- Officiële Website van het Ministerie van Defensie van Nederland
- Web van de OSF Partij
- Website van de FVD Partij
Terrorists
- Government of the Netherlands