TMNL in brief

Criminals in the Netherlands are currently laundering an estimated sixteen billion euros annually, of which only two per cent is actually seized. This can and must improve.

The banks are therefore making every effort to play their part in this as best they can. That is why the five Dutch banks, ABN AMRO, ING, Rabobank, Triodos Bank and the Volksbank, have set up Transactie Monitoring Nederland (TMNL).

What does TMNL do?

TMNL brings together transaction data from different banks and makes meaningful connections between them. These links provide new insights into possible money laundering and terrorist financing. TMNL ensures that banks are even better able to detect potentially unusual transactions and that new patterns can be uncovered that would otherwise not be noticed. This allows investigative services to tackle money laundering more effectively, public resources are used more efficiently and criminals are given less room to operate. In this way, TMNL makes a positive contribution to society.

Banks have been monitoring transactions for many years. What does TMNL do differently?

Under the current Money Laundering and Terrorist Financing Act (Wwft), banks are an important link in the fight against financial crime, and thus make a substantial contribution in making the monitoring and investigation chain more effective. Until recently, banks have individually looked for possible unusual transaction patterns and reported any relevant transactions to the Financial Intelligence Unit – Netherlands (FIU). The FIU has then further investigated these reports and, where necessary, forwarded them to the investigative services. While these efforts continue, the limitation of each bank individually in looking for money laundering and terrorist financing transaction patterns has been recognised, as criminals will often spread their transactions across multiple banks.
A more intensive cooperation between banks is thus an important part of a more effective approach to money laundering and terrorist financing, and that is exactly what TMNL is aiming for.

About us

Transactie Monitoring Nederland B.V. (TMNL) was founded on 10 July 2020 by the five banks: ABN AMRO, ING, Rabobank, Triodos Bank, and Volksbank.

TMNL has been built up and developed in stages. In its first eighteen months to two years, TMNL has focused on building and developing a platform to analyse a large number of business payments made through the founding banks for potentially unusual transactions.

TMNL is led by CEO Norbert Siegers. Moving from his most recent role as IT Lead in Commercial Banking at ABN AMRO, Siegers brings more than 25 years of experience in banking and payments with him. The other, experienced members of the MT also come from the founding banks: AML Analytics Manager Eline Koster is a former Financial Crime Expert at Rabobank; Chief Risk & Administrative Officer Lars Roodenburg is a former Legal Expert at ING; and Chief Technology Officer Lucian Baghiuc was a Technology Expert at ING. In addition to the MT, TMNL has a diverse, ambitious, and skilled team of staff, which is still growing.

>At TMNL, we place huge importance on corporate social responsibility, constant curiosity, bold decisions, and learning and growing together. TMNL has a firm cultural foundation based on ethics, welcoming people of all backgrounds, personalities and perspectives, honesty and vulnerability in our interactions, and continuously experimenting. In this way, we not only gain the edge and achieve the quality in our work that we strive for, but also bring about long-term social change through our continuous fight against money laundering and terrorist financing.