The Financial Action Task Force (FATF) identified some possible improvements in its mutual evaluation reports, published on Wednesday 24 and Thursday 25 August. With respect to Netherlands, the FATF concluded that the country has a good understanding of the risks of money laundering and terrorist financing.

One of the main strengths of the Dutch system is strong national coordination and cooperation in LCB/FT. However, fraud and drug offences account for over 90% of all proceeds of crime. The risk of money laundering is manifested through the use of cryptocurrencies, trade-based services, underground banking, including unauthorized payment services, and offshore companies. In particular, the body recommends that the Netherlands redouble its efforts to ensure that the business register contains accurate information on the businesses of active legal persons.

As for Germany, the FATF welcomed the implementation of important reforms over the past five years to strengthen its system, including better cooperation Ration between the Federal State and the 16 Länder. While some of these new measures are already showing results, the FATF suggests that this approach continue.