Combating money laundering effectively is only possible if all parties in the financial chain - institutions with a reporting duty, supervisors, investigative authorities and prosecution services – work together and share information to the best of their abilities. We therefore support the proposal that these private and public institutions join forces and effectively work together. Naturally, it is important that measures concerning cash money are implemented in a way that does not hinder legitimate payments.
Money laundering is a cross-border form of crime. Consequently, we embrace the plans to enhance the effectiveness of the European fight against money laundering by advocating a European AML/CFT supervisor. We would like to stress our fruitful cooperation with the Ministry of Finance and the Dutch Authority for the Financial Markets (AFM) in this field. Together we will raise awareness for this at a European level.
The action plan should also take into account the need for sufficient supervisory capacity to carry out these tasks. It should ensure that supervisors are capable of fulfilling their tasks well, have the required expertise and are able to anticipate new developments, for instance in the area of technology.
Combating money laundering also implies that the underlying crime is fought. For the Netherlands, this will mainly home in on drug trafficking and fraud. We obviously promote a firm approach to such undermining crime.