Tightening of the Money Laundering and Terrorist Financing (Prevention) Act? The Dutch Money Laundering and Terrorist Financing (Prevention) Act (Wet ter voorkoming van witwassen en financieren van terrorisme, Wwft) is still under development and a new draft amendment has been tabled in the Lower House. The aim of the amendment is to bring the Wwft into line with the European legislation and to address shortcomings identified by the Financial Action Task Force (FATF). The government takes the view that the Wwft should be periodically expanded and amended in order to guarantee the effectiveness of its measures. At the same time, international pressure to tighten the legislation is heavy as ever.
Source/Author: Newsflash Corporate crime, disciplinary proceedings & compliance May 2012 - Jurjan Geertsma, Melissa Slaghekke
Newsflash Corporate crime, disciplinary proceedings & compliance
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