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:
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.
(*) (*) 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;All entities registered with FIU-the Netherlands will be kept informed of any changes to the legislation or reporting procedures, trends, and other relevant developments.