Netherlands Banks Must Address AML Compliance Risk of Beneficial Ownership
The Financial Action Task Force (FATF) has emphasised how important it is for Netherlands banks to ensure that legal persons aren't being used for criminal interests going forward. The FATF released the latest Mutual Evaluation Report in August of this year with a focus on how more resources are necessary to help address the AML compliance risk of beneficial ownership. Beneficial ownership relates to those who own, control or benefit from specific bank accounts. Where information about who these natural...
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