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AML – How to Effectively Implement Transaction Monitoring?

A financial institution should actively monitor its customers’ payment traffic through transaction monitoring with the aim of identifying unusual activity (including unusually large transactions, transactions to/from high-risk countries, or deviations from a customer’s expected payment behaviour etc.). But transaction monitoring is also essential for lenders, factoring companies and crowdfunding platforms, where payments are usually made via bank transfers or direct debits, to comply with Wwft rules. Read more about this in our latest article.

Rethinking Work Time: Legal Transformation in The Netherlands

wondering whether everything is all right

Chambers and Partners never misses out on thought leadership content from legal experts and the key stories driving the legal profession forward. In their latest Expert Focus publication ACG International’s Managing Partner, Mrs. Edith Nordmann examined the legal framework, key judgements, and their implications on the definition of ‘work time” within Dutch labour law. To […]

The Legal 500 Country Comparative guide on employment and labour law

The Legal 500 Country Comparative Guide offers a roadmap through the complex legal landscape that impacts the daily operations and workplace rights. Understanding these laws is essential for navigating the challenges of the modern workplace, ensuring compliance, and fostering a harmonious work environment.

Joint Approach to Money Laundering by Dutch Banks Under Fire!

Banks are obliged under Dutch (and European) law (the Prevention of Money Laundering and Terrorist Financing Act, “Wwft”) to monitor all financial transactions of their customers for possible criminality. But the big Dutch banks’ joint money laundering approach undermines European legislation (AMLR) and must stop.

Navigating the Waters of Director’s Personal Liability and Its Inheritance: A Legal Perspective

Personal liability for a company’s debts can now be inherited. A director’s personal liability for a company’s outstanding debts does not simply disappear on death. Instead, this responsibility is transferred to the director’s heir(s).
Strategic decision-making, transparency and the need for comprehensive legal and financial preparation are of great importance to anyone involved in or connected to the business sphere. Understanding these dynamics and preparing for their implications is crucial for both protection and forward planning.

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