speech klaas knot - working on progress. on public and private risk sharing in the emu 27 september 2022 algemeen “ we have thirty years of experience to learn from. thirty years of crises and successes, of design flaws and great innovation, of opportunities for reform that we have missed, and opportunities for prosperity gains that we have seized. ” this is what klaas knot said on the thirtieth birthday of the maastricht treaty. in his speech, he stressed that the economic and monetary union is a work - in - progress, but also that we need to keep working on that progress, and that “ whatever way you look at it, going forward means, at least partly, increasing risk sharing. and i mean crossborder risk sharing. this means using the strength in our numbers to absorb possible shocks. ” " in a sense, the fall of the berlin wall led to the rise of the economic and monetary union. " klaas knot president, de nederlandsche bank datum : 27 september 2022 spreker : klaas knot locatie : “ euro at 20 : shifting paradigms? ”, maastricht hello everyone. and happy birthday! happy thirtieth birthday to the maastricht treaty. what better place to celebrate this birthday than here – in the statenzaal – the very room where the maastricht treaty was signed. i remember this historic event vividly. just like i vividly remember what happened only a few years before : the fall of the berlin wall. in a sense, the fall of the berlin wall led to the rise of the economic and monetary union. because after 1989, germany once again wished to become a unified nation. but other european nations, principally the french, were hesitant. a unified germany would de facto set the economic and monetary tone for a lot of other european countries. and so those countries were keen to ensure that a reunified germany would remain embedded in a countries were keen to ensure that a reunified germany would remain embedded in a united europe. that is why discussions on the economic and monetary union gained momentum – eventually leading to the deal between mitterrand and kohl : unification for you – the euro for us. and for the past twenty years, the euro has been the very bedrock of our single market. the absence of exchange rates has been an impressive impetus for prosperity – in the entire euro area. being a

attracted great interest within the domestic and international communities on the aml / cft / cpf regime. this has led to higher expectations for authorities to take prompt action against activities involving cross - border flow of illicit funds as well as the broader ml / tf / pf threats. while efforts by the financial action task force ( fatf ) to enhance and provide greater clarity on related standards, including on transparency of beneficial ownership is underway, authorities and gatekeepers are also expected to ensure that blind spots are effectively addressed. more often than not, the information regarding these illicit activities resides with multiple parties across the public and private sectors. hence, any suspicion will only surface if we are able to link and integrate that information. in this pursuit, greater collaboration among the law enforcement agencies ( leas ) as well as between leas and the private sector is essential for us to efficiently and effectively connect and assess all relevant information, which will no doubt further strengthen our efforts to fight ml / tf / pf threats. in this respect, it is observed that the public - private partnership ( ppp ) is gaining momentum and is fast becoming known as a key success factor for effective information sharing in the 1 the joint money laundering intelligence aml / cft / cpf ecosystem. to quote some examples, taskforce ( jmlit ) established by the united kingdom in 2016 has prompted a key shift in 1 / 3 bis central bankers'speeches addressing ml / tf threats. as of june 2020, jmlit has completed over 750 cases and detected more than 5, 000 suspected accounts linked to financial crimes. similar achievement was also experienced by the fintel alliance in australia where within the span of one year between 2018 to 2019, over 300 cases were successfully completed through the partnership. other countries within the region have also followed suit – hong kong ’ s fraud and money laundering intelligence taskforce ( fmlit ) and singapore ’ s anti - money laundering and countering the financing of terrorism industry partnership ( acip ). in malaysia, the ppp is undertaken through the financial intelligence network ( myfinet ), which involves collaboration and information sharing between leas such as the central bank, royal malaysia police and malaysian anti - corruption commission, and private sectors such as financial institutions. given the significant potential of ppp, we have identified it as one of the apg co - chairs ’ priorities and we have also successfully conducted the first part of the ppp technical seminar in july this year. for the