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During the 26th Egmont Group Plenary meeting in The Hague, The Netherlands, the Heads of FIU (HoFIU) endorsed the Egmont Information Exchange Working Group's (IEWG) final report on FIU Tools and Practices for Investigating Laundering of the Proceeds of Corruption and its Public Summary.

The changes to the Money Laundering and Terrorist Financing (Prevention) Act (“Wwft”), adopted in connection with the implementation of the 4th European Anti Money Laundering Directive came into fo

As of the 25th of July 2018, the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act has been adjusted. Please find the alterations on our website. 

A trust office had failed to report a transfer of shares /depositary receipts for shares in time to FIU-Netherlands and consequently received an administrative penalty.

This judgment was rendered by the Dutch Trade and Industry Appeals Tribunal (College van Beroep voor het Bedrijfsleven) on 17 January last. Earlier, the court had come to the same conclusion.

We started the new year with our 185th case since the launch in 2012. A high-profile case. In the week before Christmas the court convicted a detained accused for laundering nearly half a million euros.  He was sentenced to a term of imprisonment of 20 months and the court ordered the confiscation of laptops among other things, and ordered that income obtained from crime should be taken from him.  The term of imprisonment was partly suspended on account of the person’s ill- health, but he would not be able to spend Christmas with his family.  

Last month three accused heard sentences of up to 16 months demanded against them for fraud and embezzlement of more than one million euros.

A civil-law notary who had been removed from office and appealed against the sentence received an even heavier sentence. 

A man was convicted for a crime that had earned him a handsome amount of money. That is why, in addition to the sentence, a confiscation order was imposed to deprive him of his criminal profits. The Central Fine Collection Agency is responsible for the collection of such confiscated assets. FIU-the Netherlands also searches its data for these confiscation procedures in order to detect money flows that the parties concerned are trying to keep out of the confiscation. If the fines or confiscations concern large amounts, payment arrangements are often made between the convicted criminal and the Central Fine Collection Agency. After agreeing to the arrangement, those convicted frequently contact the Central Fine Collection Agency some time later to argue that they have insufficient funds to meet their payment obligations. In such a case, the instalment amount can be reduced by agreement.

Two months ago, the Fiscal Intelligence and Investigation Service searched a house and a business premises and seized considerable assets, including a car that was transported to the State Property Service by means of a recovery vehicle. This was the preliminary result of a long investigation that was launched on the basis of an FIU file.

Last month, the police and the Fiscal Intelligence and Investigation Service interviewed a lawyer, a tax consultant, an accountant, and a civil law notary about their failure to report unusual transactions or to screen clients properly. It was the first time a lawyer was interrogated as a suspect in the ‘Project on parties failing to report’, according to the Public Prosecution Service.

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