Dealers in goods

Natural persons, legal entities, or partnerships that in practicing a profession or as part of their business act as a dealer in goods (with the exception of art objects), if the cash amount paid for said goods amounts to €10,000 or more, whether paid in one transaction or multiple connected transactions;

According to the Money Laundering and Terrorist Financing (Prevention) Act, dealers in goods are required to report unusual transactions. These reports must be submitted to FIU-the Netherlands. You will have to register with FIU-the Netherlands before you submit your first report. FIU-the Netherlands will then provide you with the information you need, and arrange your access to the online reporting portal. You can use the reporting portal to report unusual transactions. FIU-the Netherlands will analyse the reports on a daily basis, and determine what reports will be forwarded to the investigative services.

Reporting indicators have been developed. There are objective indicators and there is a subjective indicator. If your report meets the criteria of an objective indicator, you do not need to assess it further, as in these cases you are required submit a report. But if the report does not fall under an objective indicator, the subjective indicator may apply. In such cases, you have to assess the report yourself, and decide whether the report does indeed fall under the subjective indicator. Please note: it is up to you whether or not to report, but you will be held accountable if you fail to submit a report while you should have. 

The following indicators apply to your type of business:

Subjective indicator:

• Subjective01 A transaction(*) of which the institution has reason to assume that it may be linked to money laundering or the financing of terrorism. 

For a correct subjective assessment of transactions involving persons from countries with an increased risk, FIU-the Netherlands refers you to the high-risk countries designated by the  CIE. 

Objective indicator:

• Objective01 It stands to reason that transactions that are reported to the police or the Public Prosecution Service because they are linked to money laundering or financing of terrorism are also reported to the Financial Intelligence Unit, as there is a suspicion that these transactions are linked to money laundering and financing of terrorism.
• Objective03 A transaction involving the sale or purchase of one or more vehicles, vessels, art objects and antiques, precious stones, precious metals, and pieces of jewellery by use of a full or partial cash payment, in which the cash sum amounts to € 20,000 or more.

(*) (*) For dealers involved the sale or purchase of goods, these indicators apply to transactions in which payment in cash amounts to €10,000 or more, whether paid in one transaction or multiple connected transactions;