What happens if I do not meet my obligation to report?
Based on the Money Laundering and Terrorist Financing (Prevention) Act (Wwft), reporting entities are under an obligation to report any unusual transaction, whether completed or intended. If you fail to do so, you are in breach of the Wwft. If, whether intentionally or unintentionally, you do not meet the obligation to report, you commit an economic crime that has certain consequences. Further information on failure to report an unusual transaction can be found on the page Obligation to report.
On the basis of Articles 19 and 20 of the Money Laundering and Terrorist Financing (Prevention) Act (Wwft), if entities with an obligation to report do so in good faith, correctly, in full, and in a timely manner, they have criminal indemnity and are not liable under civil law. This means that as a reporting party you cannot be held liable for any damage your customer may incur as a result of your report, for instance. In addition, data that you report to us in accordance with the standards may not be used against you in a criminal investigation.
For security reasons, the content of your report is removed from the reporting portal after 24 hours. From then on, you will see a summary version of your report.
The procedure for reporting an unusual transaction is set out on the page Obligation to report.