28 November 2023 — What is the responsibility of the financial sector and the young professional in combating fraud and terrorist financing, and combating money laundering? These and other questions were addressed at the first meeting of the Young Leaders programme in Finance. After the introductions of the speakers Jelle van Baardewijk (VU) and Willem Schudel (DNB), they spoke to each other and the participants under the direction of Annemarie Wehmeyer (Socires).

Jelle van Baardewijk kicked off as a philosopher with a reflection on the ethical side of the story. How do you prevent compliance simply from being a responsibility? But also, is that responsibility with banks as gatekeepers in the right place?

Jelle van Baardewijk in conversation with the young professionals

Willem Schudel, head of financial crime department at DNB, continued on the role of DNB as supervisor, and the responsibility of financial institutions to comply with the Wwft.¹ The reportFrom recovery to balance sheet (2022) (PDF) shows that the vision of the role of the financial sector as gatekeepers and the role of DNB as a supervisor has been reviewed. The crux is a move towards a more risk-based approach to financial crime. In the revision of the Guide Wire Wwft this movement of thought is reflected. The revision is for consultation at DNB and up to 30 November 2023 could be responded to (DNB).

Willem Schudel in conversation with the young professionals

Jelle van Baardewijk's lecture was published in collaboration with De Nieuwe Wereld:

Endnotes

¹Wwft stands forLaw on the prevention of money laundering and terrorist financing. It describes the gatekeeper's role of financial institutions that DNB and AFM supervise.

Young Leaders in Finance is a young professionals program organized in collaboration with Sustainable Finance Lab. Read more about the program atSociresEN/ylf.