The Minister of Finance, Wopke Hoekstra, sent, on 24 March 2020, a further statement of Reply ('the Statement') regarding amendments to the Money Laundering and Prevention of Financing of Terrorism Act and the Trust Offices Supervision Act 2018 ('the Amendments') in connection with the implementation of Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 Amending D
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Netherlands: Minister of Finance sends Statement on 5AMLD Amendments to House of Representatives
March 25, 2020
Summary
On 24 March 2020, the Netherlands' Minister of Finance, Wopke Hoekstra, submitted a Statement of Reply concerning amendments to the Money Laundering and Prevention of Financing of Terrorism Act and the Trust Offices Supervision Act 2018. These amendments are in response to the implementation of the 5th Anti-Money Laundering Directive (5AMLD) of the EU, which aims to prevent the financial system's use for money laundering or terrorist financing. The Statement addresses questions about the administrative burden and costs for small companies, as well as inquiries from the Christian Union group and the Otten Group members.