As a bank, we have an important responsibility to society: to protect the financial system from misuse. We do this for our customers and for society as a whole, helping to ensure that banking remains safe and reliable.
A reliable financial system
We believe it is important that everyone can bank safely. That is why we are committed to maintaining a safe and reliable financial system. We help prevent misuse of the financial system, including money laundering, fraud, terrorist financing, human trafficking and illegal trade. These forms of crime can have a major impact on individuals and society as a whole.
Asking questions
To assess risks properly, we ask questions that may sometimes feel personal. We ask these questions to gain a clear understanding of our customers. They also help us get to know our customers better. By sharing information, we can continue to rely on a stable, fair and secure financial system together. For you, for society and for the bank.
Privacy and data protection
Customers entrust us with their personal data, and we handle it with care. We only use customer data when necessary to comply with laws and regulations, identify risks and keep their banking activities secure. Access to this data is strictly restricted, and we do not retain it for longer than necessary.
Discrimination
Every customer should feel welcome and fairly treated. Preventing discrimination is important to us. At the same time, we recognize that we do not always succeed. We remain committed to improving our services so that no one feels discriminated against. To help prevent discrimination, we work with organisations such as De Nederlandsche Bank, the Dutch Authority for the Financial Markets and the Dutch Banking Association. By working together, we can achieve more and tackle discrimination more effectively. Have you experienced discrimination in our services? We would like to hear from you so that we can learn from your experience, prevent similar situations in the future and help combat discrimination. You can report this to us via (Dutch only). ABN AMRO is also affiliated with the Discriminatie.nl reporting centre.
What is financial and economic crime?
Experts estimate that criminal transactions worldwide amount to approximately €2.4 trillion each year. In the Netherlands, an estimated €13 billion to €16 billion is laundered annually. This money often comes from illegal activities such as drug trafficking, terrorism, human trafficking, illegal wildlife trafficking and fraud. As a bank, we have a statutory role as a gatekeeper. This means that we help prevent the financial system from being used for criminal activities. We therefore actively monitor unusual situations and regularly check our customers' details and transactions. In this way, we contribute to a safer society.
What is money laundering?
Money laundering is the process of concealing the illegal origin of money so that it appears legitimate. For example, a criminal earns one million euros in cash from drug trafficking and wants to prevent anyone from discovering where the money came from. They therefore try to introduce the money into the legitimate financial system. Criminals may deposit cash into bank accounts in small amounts, exchange it for other currencies, or spread it across different accounts and countries. Ultimately, they try to make the money appear legitimate, for example by investing it in businesses, real estate or land. This makes it more difficult to trace the money back to its original criminal source.
Changes in laws and regulations: AMLR
Rules designed to prevent money laundering and terrorist financing are becoming increasingly stringent. One important development is the introduction of the European Anti-Money Laundering Regulation (AMLR). This regulation aims to ensure that, as far as possible, the same rules for conducting checks on customers and transactions apply throughout the European Union. Under this regulation, banks must be better able to identify financial abuse. They must also report unusual situations to the authorities sooner. For customers, this may mean that we ask more questions or request additional information, for example about the source of their wealth or the purpose of certain transactions.
Working together for greater security
Crime does not stop at the boundaries of a single bank. That is why we work together with other banks, regulators and law enforcement agencies. By sharing information and expertise, we can tackle financial crime more effectively. Together, we help prevent abuse of the financial system and contribute to a safer society.