Compliance, Ethics & Sustainability An international journal with a European focus 2024 nr. 5/6
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'Illegal service providers are mostly afraid of reputational damage'

Jeroen Boogaard

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From 2025, De Nederlandsche Bank (DNB) will focus on tackling payment service providers and trust offices who are operating illicitly. This type of facility presents an increased risk of money laundering. Those carrying out activities without the required licence will be liable not only under administrative law but also under criminal law, DNB warns.

The Dutch central bank has been battling illegally operating crypto firms for some time. Companies wishing to provide crypto services in the Netherlands are required to register with DNB under the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act (Waft). The registration requirement for crypto service providers was introduced on May 21, 2020, due to the high risk of money laundering and terrorist financing associated with crypto services. In 2022, DNB fined Binance, one of the largest cryptocurrency exchanges, €3.3 million for offering services in the Netherlands without being registered in the coun...

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Artikel informatie

Type
Artikel
Auteurs
Jeroen Boogaard
Auteursvermelding
Ik ben auteur van dit artikel
Datum artikel
12 december 2024
Uniek Den Hollander publicatienummer
UDH:TvCo/18422

Gerelateerde inhoud

Vrij gevonden op trefwoorden:

anti-witwasstrategieën, DNB, De Nederlandsche Bank, trust offices

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