Why now: the dates and their sources

The Dutch central bank fined a payment company EUR 2.65 million because the software that watches customer transactions was not fed properly for over two years and alerts were closed in bulk. The company has objected; the objection was undecided when we checked.

De Nederlandsche Bank publishes an administrative fine of EUR 2.65 million on a payment institution under Section 3(2) of the Wwft for failing to adequately and continuously monitor transactions.

The EU's banking authority finished its rules on how firms must manage outside providers. Payment and e-money companies are covered, so a firm using a provider like us must assess and document that arrangement.

The European Banking Authority publishes its final guidelines on third-party risk management. Payment institutions and e-money institutions are in scope.

The Dutch central bank fined an e-money company EUR 722,160 for not keeping up its ongoing checks on customers between January 2023 and July 2024. The fine was cut by 15 percent because the company accepted the facts.

De Nederlandsche Bank publishes an administrative fine of EUR 722,160 on an e-money institution for serious shortcomings in the ongoing monitoring of its customers and their transactions between 1 January 2023 and 16 July 2024.

A new EU anti-money-laundering law applies. Every customer must be re-checked at least every five years, and every year if they are higher risk.

Regulation (EU) 2024/1624, the AML Regulation, applies. Obliged entities must update customer information at least every five years, and at least every year for higher-risk customers.

A new EU authority, AMLA, picks up to 40 of the largest cross-border firms and supervises them directly.

The Anti-Money Laundering Authority expects to select up to 40 cross-border entities for direct supervision by the end of 2027 and to begin supervising them in 2028.