'The new Industry Baselines bring a clear set of principles'
Jeroen Boogaard1Artikel kopen € 79,00 excl. BTW
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The NVB Industry Baselines provide Dutch banks with clear principles for the targeted and proportionate implementation of their Wwft obligations. 'Banks are provided with principles for an adequate risk-based approach. Applying risk relevant measures only for customers with risk indicators, reduce controls, where possible, and do less for customers deemed low-risk', says Helène Erftemeijer, Sector Coordinator AML and CFT at NVB.
Last year, the Dutch Banking Association (NVB) published a set of guidelines known as the NVB Industry Baselines. The Industry Baselines set out standards for the risk-based application of the open norms in the Money Laundering and Terrorist Financing (Prevention) Act (Wwft) for Client Due Diligence (CDD) by banks CDD means the act of collecting identifying information to verify a customer's identity and more accurately assess the level of criminal risk they present, divided into Risk-based Industry Baselines and Sector Industry Baselines. Aim is t...
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