Deloitte connects 5 Dutch banks to make an impact with Transaction Monitoring Netherlands (TMNL)


Deloitte connects 5 Dutch banks to make an impact with Transaction Monitoring Netherlands (TMNL)

Future of Security

The 5 largest Dutch banks have signed an agreement to establish an enterprise that will jointly monitor the transactions of these banks to detect of money laundering. The founding of ‘TMNL B.V.’ (Transaction Monitoring Netherlands) caps 2 years of intensive support by Deloitte, assisting banks in managing this complex transformation.

A collective fight against financial crime

An estimated 16 billion euros is laundered in the Netherlands annually, tied to predicate offenses ranging from human trafficking, narcotics trafficking to terrorist financing. Banks are committed to detecting these money flows, as part of their ‘gatekeeper’ role to protect the integrity of the financial system. Core to their approach is the monitoring of all customer transactions for suspicious activity. However, each bank can - within its own silo - only see a part of the money flows, limiting its ability to effectively identify money laundering.

ABN AMRO, ING, Rabobank, De Volksbank, and Triodos Bank are now combining forces. They have founded ‘TMNL’ (Transaction Monitoring Netherlands): the first institution in the world to jointly monitor the transactions of multiple banks with advanced analytics techniques such as network analytics and anomaly detection.

Deloitte has been an advisory partner to the banks in the development of TMNL since 2018. The Deloitte team includes experts in the field of Financial Crime Advisory, Strategy, Privacy, IT, and Legal. TMNL and Deloitte intend to sustain their partnership in the subsequent phases, where Deloitte aspires to extend its role in making an impact to the ‘Future AML landscape’, which is right at the heart of the strategy of Deloitte to help shape the ‘Future of Security’.

“The successful collaboration with the NVB and 5 participating banks and the wider ecosystem demonstrates how Deloitte is uniquely positioned and committed to making an impact on key societal issues and driving innovation in the banking sector. We congratulate the banks on this milestone, and encourage all parties involved to sustain this magnificent impact.” 

Pieter Hofman, Deloitte Financial Services Industry leader

Watch the video to see how Deloitte contributes to the battle against financial crime

More information

For more information please contact Baldwin Kramer, René Kartodikromo or Hilko van Rooijen via the contact details below.

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