Under Section 33 of the Wwft, crypto service providers must retain CDD data and transaction data for a minimum of five years after termination of the business relationship or following the execution of the relevant transaction. This concerns all data obtained during the CDD process, e.g. copies of identity documents, correspondence, memos of conversations about and with the customer, transactions effected by the customers and information about other services provided to that customer.
Under Section 34 of the Wwft, crypto service providers must record and document regular and unusual transaction data for a minimum of five years, so that the transaction can be reconstructed if necessary.
Please note that this also applies to companies that have terminated their activities and/or are no longer registered.
Section 5 of the Regulation on Supervision pursuant to the Sanctions Act 1977 (Regeling toezicht Sanctiewet 1977 – RTSw) also prescribes a five-year retention period.
On 14 July 2023, De Nederlandsche Bank (DNB) imposed an order subject to penalty on Payward International Markets Limited (Payward International), operating under the trade name Kraken.
Read more Order subject to penalty imposed on Payward International Markets Limited for offering crypto services in the Netherlands without registration
Supervisory authority De Nederlandsche Bank (DNB) is submitting a new anti-money laundering approach to financial institutions and other stakeholders as part of a public consultation. In a policy document presented today [...]
Read more DNB submits new anti-money laundering approach to financial sector
DNB has conducted a series of examinations to assess financial institutions’ compliance with sanctions regulations and, more specifically, whether their compliance operations are fit for purpose. We are happy to share the results of these investigations.
Read more Sanctions Act examinations: room for improvement, but sector shows strong commitment to compliance
Did you know that you can track the status of your assessment application in My DNB? As of 11 May 2023 you can see the status of your assessment application in My DNB – Supervisory Applications Service.
Read more New: status of your assessment application with DNB
