THE HAGUE - The five largest Dutch banks will tackle money laundering together. To intercept the billions in circulation of criminal money, the banks want to set up an organization that controls transactions.

According to Chris Buijink of the Dutch Banking Association, although this is a private initiative, it fits well with the action plan that the government launched last summer.

PRIVACY IS AN ISSUE

"We are not yet ready to exchange information, but work is in progress. This afternoon we will see if it is possible that we can monitor all those transactions in a bundled way. Together these transactions are around 9.8 billion a year, 27 million a day and 1.3 million an hour. Now you can only see what goes through one bank, now we can visualize networks and flows."