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Largest Dutch Banks Start Joint Company to Fight Dirty Money (1)

July 9, 2020, 6:18 AM

The biggest Dutch banks agreed to create a firm that will monitor their transactions jointly in a new initiative to spot financial crime that the individual lenders may miss.

ING Groep NV, Rabobank Group and ABN Amro Bank NV signed a pact on Wednesday to establish Transaction Monitoring Netherlands, according to the Dutch Banking Association. By viewing the data together, the firm seeks to spot unusual payment patterns “that individual banks can not identify,” NVB said.

“We hope that other countries will follow suit, starting in Europe,” Jeroen Rijpkema, team leader of the project, said by phone.

Dutch banks ...

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