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Incorporation “transaction monitoring Netherlands”

Transaction monitoring Compliance Innovgations

September 2019, five Dutch banks  decided to incorporate a new institute operating under the name “Transaction Monitoring Netherlands”. The joining Banks are  ABN AMRO, ING, Rabobank, Triodos Bank and the Volksbank. They will step up their efforts to battle money laundering  by monitoring  all payment transactions. The five banks alone cover at least 27 million transactions per day. Raemonda, a software solution for Trust Companies, provides for an enhanced transaction monitoring module.


The Dutch Central Bank (DNB) announced this month that the compliance reports from Trust Offices are often deficient or even lacking. This detracts from the effectiveness of the compliance function.

During investigations, DNB has found that compliance reports are missing or contain mainly numerical information. DNB is of the opinion that this affects or can affect the effectiveness of the compliance function. The compliance software of Compliance Innovations, Raemonda, provides for automated reporting for trust offices compliant to WTT or WWFT. For further reading, visit the news section at www.dnb.nl


Compliance Innovations develops compliance software focused on international anti-money laundering (AML) and Counter Terrorism Financing (CTF) regulations. In the Netherlands these are legally reflected in the Dutch Trust Offices Supervision Act 2018 (Wtt), the Anti-Money Laundering and Anti-Terrorist Financing Act 2018 (Wwft) and the Sanctions Act (Sanctiewet 1977).
Our software has been developed by various professionals active in the financial sector in order to facilitate a compliance programme that assists Trust Companies and other financial and administrative institutions to meet the compliance obligations in terms of Know Your Customer (KYC), anti-money laundering and counter terrorism financing in order to demonstrate that they have conducted their customer due diligence process in a proper way.

Our software includes the ‘Know Your Customer’ (KYC) and ‘Customer Due Diligence’ (CDD) functionality, Transaction Monitoring on both planned transactions and processed transactions checked against the cash expectations and non-cash expectations from the Transaction Profile, as well as an integrated Sanction Checker, Delegation Monitoring (both internal and external) and reporting tools (such as the annual Dutch National Bank ISI form).
The offices of Compliance Innovations are located in Amsterdam (sales and operations) and in Enschede (software development), the Netherlands.

Transaction Monitoring Netherlands

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