The Dutch Government is monitoring the financial system in our country. In addition, the authorities are taking measures to combat illegal financial activities, such as fraud, money laundering and the financing of criminal or terrorist organizations. This monitoring and these measures are elaborated and laid down in various laws. The supervision of banks is carried out by De Nederlandsche Bank (DNB) and the Financial Markets Authority (AFM). Two laws play an important role for us and our customers: Wft and Wwft.
"}},{"componentType":"accordion","accordionList":[{"title":"What do these laws mean to you?","richBody":{"value":"In order to record your data correctly and keep it up to date, we need your help. We will ask you questions if you want to become a customer and ask you to inform us of any changes in your personal and financial situation. Sometimes a periodic review raises questions about one of your transactions or the use of your account. We will contact you and ask questions about this. We know that it takes time and effort to answer, and you're already busy enough. However, it is important to respond in time to our request. Keeping your customer information up to date is important. If you do not respond or do not respond in a timely manner, your account may be blocked. In the worst case scenario, we even have to end the customer relationship with you.
"}},{"title":"The Wft and Wwft","richBody":{"value":"These abbreviations stand for ‘Financial Supervision Act’ and ‘Laws for the Prevention of Money Laundering and Terrorist Financing’. The supervision of financial institutions and the whole financial system by the Dutch authorities is regulated by the Wft. The Wwft was introduced to prevent and reduce illegal financial activities, including money laundering, fraud and terrorist financing. You can read more on the National Government's website (Dutch) and in the Attachment Law and Regulations Wft, Wwft, and CDD process ING (Dutch)
"}},{"title":"International sanctions: what you need to know","richBody":{"value":"When you transfer money, we process these transactions with the expectation that you will act in accordance with applicable sanctions laws and regulations. This means that no (indirect) payments are made with persons, companies or organisations on the sanctions lists or activities with goods or services that are subject to restrictions. We comply with local and international sanctions laws and regulations (including European Union, UN, US). An example of this is the sanctions that the European Union has imposed on Russia and Belarus in connection with the situation in Ukraine. In countries where ING's policy on financial economic crime is stricter than local rules, ING's policy applies. For more information about the ING policy and the countries to which this policy applies, please visit Financial Crime Statement (on ING.com). For an overview of European sanctions and associated resources, please visit europa.eu.
"}},{"title":"What about your privacy?","richBody":{"value":"ING is legally obliged to process your data for Know Your Customer purposes. Therefore, this is allowed under the Privacy Act, the General Data Protection Regulation (AVG). For more information on how to process your personal data, see ing.nl/privacy.
"}}]},{"componentType":"linkList","iconTitle":{"title":"More KYC pages"},"textLinks":[{"url":"/en/business/customer-service/kyc/why-kyc","text":"Why KYC?"},{"url":"/en/business/customer-service/kyc/being-a-customer","text":"Being an ING customer"},{"url":"/en/business/customer-service/kyc/becoming-a-customer","text":"Becoming an ING customer"},{"url":"/en/business/customer-service/kyc/taxable-abroad","text":"Taxable abroad"},{"url":"/en/business/customer-service/kyc/how-am-i-sure-that","text":"How am I sure ING is approaching me?"}]}]},"legalZone":{"flexComponents":[{"componentType":"paragraph","richBody":{"value":"🛈 We offer the English information on ING.nl as an additional service. This information was translated from Dutch, and in case of any inconsistency, the original Dutch text shall prevail.
"}}]}}}