Human Rights in Finance Sues Dutch Central Bank Over AML

In July, the Dutch Foundation Human Rights in Finance formally requested a human rights evaluation of the EU's fifth anti-money laundering directive AMLD5. The request referred to a commissioned legal opinion evaluating transaction outsourcing of the Netherlands' five largest banks via Transactie Monitoring Nederland (TMNL) as "a criminal offense" in light of national law which prohibits the outsourcing of transaction monitoring by banks.

In April, HRIF urged the Dutch Central Bank "to halt Transactie Monitoring Nederland immediately", which ceased operations in July 2024 on its own accord. According to HRIF, TMNL's "illegal data processing now pertains to more than 10 billion data subjects", while "all banks in the Netherlands are fully aware that they may not outsource transaction monitoring under article 10 of the AML-Law." HRIF requested the full deletion of all data, programs and algorithms pertaining to TMNL's transaction monitoring.

According to HRIF's Chairman Simon Lelieveldt, the Dutch Central Bank sees no more need for enforcement against TMNL as TMNL has since ceased operations. "It's the same as after speeding with 200km/h I tell the police officer, well, I've stopped the car, I am no longer transgressing the law so you no longer have to enforce with any ticket or fine", Lelieveldt tells The Rage.

Article 8 of the EU Charter of Fundamental Rights states that "everyone has the right to the protection of personal data concerning him or her" and that "such data must be processed fairly for specified purposes and on the basis of the consent of the person concerned or some other legitimate basis laid down by law. Everyone has the right of access to data which has been collected concerning him or her, and the right to have it rectified."

The case is brought in front of the administrative court of Rotterdam.

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