Prevention of Money Laundering and Terrorist Financing – Compliance with the Sanctions Act
Money laundering, terrorist financing and violations of sanctions legislation pose a major threat to the integrity of the financial sector. The AFM regards supervision of the prevention and combating of money laundering and terrorist financing as one of its core tasks, as well as supervision of compliance with sanctions legislation. Financial institutions play an important role in this regard in their capacity as gatekeepers.
If you act as an intermediary in life insurance, you must comply with the rules of Dutch Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft). You must also comply with these rules if your undertaking provides investment services under the so-called national regime. In that case, your undertaking qualifies as an investment firm.
We have included a dedicated theme page with more information on supervision and the role of gatekeepers in preventing money laundering, terrorist financing and in ensuring compliance with sanctions legislation.