This is an English translation. The original Dutch article is authoritative.
Inspectie Justitie en Veiligheid (IJenV)
The relationship between coffeeshops and banks remains a topic of discussion. The relationship between the two resembles a one-sided marriage. With the tightening of the Wwft (Money Laundering and Terrorist Financing Prevention Act), the relationship has deteriorated, and Corona added another layer of difficulty.
Coffeeshops are perhaps the most controlled sector in our country. The entire coffeeshop policy is based on control and enforcement. In itself, there is nothing wrong with that. Trust is good, control is better. It means you immediately know where you stand with each other. The only thing a coffeeshop owner cannot "refute" is their procurement at the back-door. The supplier simply cannot provide an invoice. And that is where the shoe pinches.
In most coffeeshops, the customer can pay by debit card. The number of debit card transactions is rising because customers prefer the convenience of electronic payment over cash payment. The result is that coffeeshops are receiving less and less cash with which the procurement at the back-door can be settled. Following the tightening of the Wwft, coffeeshops have been told by their banks in recent years that a maximum was set for withdrawing cash. Because coffeeshops are considered "high risk", banks are in turn obliged to conduct customer due diligence to assess the risk of laundering criminally obtained money or the financing of terrorism. Financial flows must be as transparent as possible.
A large number of coffeeshops, until recently, made use of the cash transport provider RCCS from Waalwijk, which could safely deliver or collect cash. Following the bankruptcy of RCCS on 8 March last, the situation for coffeeshops has become so dire that a working group from the sector has sent an urgent letter to the Minister of Finance.
Furthermore, the House of Representatives has been informed. (added as PDF)
Pending the outcomes, the sector is calling for broad consultations between the banks, the regulator, and the Ministry of Finance to establish agreements in a code of conduct, whereby coffeeshops in general are removed from the "high risk" category. After all, relationships only endure on the basis of mutual trust.
To be continued.