By PAUL O’DONOGHUE, Senior Correspondent
DUTCH Finance Minister Eelco Heinen has called for an overhaul of anti-money laundering (AML) regulations, citing excessive bureaucracy and high costs for banks.
Heinen said that compliance measures, costing Dutch banks €1.4 billion annually, have become inefficient and are hindering entrepreneurship. Compliance staff now make up about one in five workers in Dutch banks, totaling approximately 13,000 employees.