The reporting obligation (meldplicht) is the duty under the Wwft to report an unusual transaction to FIU-Nederland without delay. FIU-Nederland is the Dutch Financial Intelligence Unit. The duty applies to transactions that have been executed and to transactions that were only intended. A report is not a criminal complaint and not an accusation. You pass on a signal. FIU-Nederland analyses it and decides what happens next.
Together with customer due diligence and the record-keeping obligation, the reporting obligation is one of the core duties under the Wwft.
Who must report?
Every institution that falls under the Wwft. This includes banks, payment institutions, life insurers, trust offices, accountants, tax advisers, civil-law notaries, lawyers, estate agents and gambling providers. Not sure whether your organisation is covered? Read Wwft check: are you Wwft-obliged?
An exception applies to lawyers, civil-law notaries and tax advisers. The Wwft does not apply to work to ascertain a client's legal position, to representation and defence in legal proceedings, or to advice on legal proceedings. For other work, such as assisting with a property purchase or setting up a company, the reporting obligation does apply. Read more in Wwft for notaries and lawyers.
When is a transaction unusual?
You test whether a transaction is unusual against indicators. These are set per type of institution in the Wwft Implementing Decree 2018 (Uitvoeringsbesluit Wwft 2018). There are two kinds:
- Objective indicators. Fixed criteria, often with an amount. For a bank, for example, a cash exchange of € 10,000 or more into another currency is an objective indicator. If a transaction meets such an indicator, you report it, even if you do not suspect anything yourself.
- The subjective indicator. A transaction where you have reason to assume that it may be related to money laundering or terrorist financing. This is about your professional judgement. Think of a payment that does not fit the client's profile, a structure without a logical reason, or a client who refuses to explain.
How to recognise such signals is explained in What is an unusual transaction?
Reporting without a transaction
The reporting obligation goes beyond payments. You also report if:
- your customer due diligence does not produce the required result and there are indications that the client is involved in money laundering or terrorist financing;
- you end a business relationship because the due diligence cannot be completed, and there are such indications.
In those cases you also explain in the report why you are reporting.
When do you report?
Without delay (onverwijld) after the unusual nature of the transaction has become known. The law sets no fixed number of days. Without delay means: without unnecessary postponement. A report should not wait for a monthly meeting or for a file to be closed.
Set out internally who decides on a report and within what time frame. A fixed route prevents borderline cases from being left aside. Also make sure staff know whom to approach with a signal.
What does a report contain?
The Wwft lists the information you provide. Among other things:
- the identity of the client and of the UBOs;
- the type and number of the identity document;
- the nature, time and place of the transaction;
- the amount, origin and destination of the funds or other assets;
- the circumstances that make you consider the transaction unusual.
The last point carries the most weight. A clear explanation helps FIU-Nederland assess the report. Write down factually what you saw and why it differs from what you expected.
How do you report?
You report through the FIU-Nederland reporting portal (goAML). Your organisation must first register as a reporting institution. Arrange this registration in good time, not at the moment you need to report for the first time. The practical steps are explained in reporting an unusual transaction.
After your report, FIU-Nederland analyses the information. If it sees reason to do so, it may declare the transaction suspicious and pass it on to investigative services. FIU-Nederland may also ask you for additional information. You provide this without delay. In certain cases the FIU may ask you to hold a transaction for a maximum of five working days.
Confidentiality and protection
You may not tell anyone that you have reported, including the client. This confidentiality also covers additional information you give to FIU-Nederland and discussions about a possible report. A limited exception applies to lawyers, civil-law notaries, accountants and tax advisers: they may try to dissuade a client from an unlawful act.
In return, you are protected. Information you report in good faith cannot be used to prosecute you for money laundering or terrorist financing. An institution that reports in the reasonable belief that it is complying with the reporting obligation is also not liable for any damage a third party suffers as a result. The same applies to the employees who cooperated in the report.
Recording and retention
After a report you record which information you reported, with a copy of the report and the acknowledgement of receipt from FIU-Nederland. You keep this information for five years. Also record why you decided not to report if you investigated a signal. A supervisor wants to be able to follow your reasoning. Read more in Record-keeping obligation under the Wwft.
Not reporting, or reporting late, is a breach. The supervisor may, among other things, impose an order subject to a penalty or an administrative fine, and deliberately failing to report is a criminal offence. See Wwft breaches: which sanctions do you face?
What changes with the AMLR?
From 10 July 2027 the European AMLR applies. It no longer refers to unusual transactions, but to suspicions. You report when you know, suspect or have reasonable grounds to suspect that funds or activities are related to criminal activity or terrorist financing. You still report promptly. You generally answer requests from the FIU within five working days. In principle, you only carry out a transaction you consider suspicious after you have reported it. You also record how you assessed a signal if it does not lead to a report. Read more in AMLR 2027.