Video: Five years of the anti money laundering approach — lessons learned and ambitions

Marking the fifth anniversary of the Leaders in Finance anti-money laundering (AML) events, Deloitte and Leaders in Finance spoke with financial crime professionals of financial institutions and public sector to reflect on the challenges and successes in the fight against financial crime. Discover in this video how professionals of public and private parties view collaboration, regulation, and innovation in the light of the fight against financial crime.

In recent years, the financial sector in the Netherlands has faced growing unrest from criminal money flows and facilitators. Unclear regulations and high fines had a disruptive effect on the sector leaving financial institutions with numerous questions such as: how far do we really need to go, and where can we apply a more risk-based approach? These questions brought complex challenges.

Amidst these challenges, hope has emerged through increased public-private collaboration. The DNB report From Recovery to Balance provided much-needed guidance by offering insights and advocating a risk-based approach. The Industry Baselines have also contributed to strengthening the sector’s resilience.

At the same time, there is a growing recognition of the broader societal relevance of AML efforts. It is not only about complying with regulations but also about ensuring efficiency and effectiveness in the approach. How do we make sure our measures deliver the desired results without creating unnecessary burdens for clients, gatekeepers, and society?

Are we at a turning point? The minister’s letter on the anti-money laundering approach calls for ‘more where needed, less where possible’. European cooperation is being strengthened, and we share our aspirations for the next five years: a future where AML is a shared responsibility embraced by all.

Watch the video, learn more about our approach and make a difference together.