Your challenges.
Trust offices manage companies and structures for clients, often with parties in several countries. In the Netherlands they need a licence from De Nederlandsche Bank (DNB) under the Act on the Supervision of Trust Offices 2018 (Wtt 2018), and they are subject to the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft). This means you must know who is behind every structure and why that structure exists.
What we look at
Through holding companies, foundations and foreign entities to the ultimate beneficial owner.
Assessing clients, directors and other parties involved for integrity risks.
Screening all parties involved against sanctions lists, also when the structure changes.
Keeping files up to date, in line with your systematic integrity risk analysis (SIRA).
Frequently asked questions
Who supervises a trust office?
A Dutch trust office needs a licence under the Wtt 2018 and is supervised by DNB. The Wwft also applies.
Can BlueMonks investigate layered structures?
Yes. We map the ownership and control structure up to the ultimate beneficial owner, and document how we established it.
Does the trust office remain responsible?
Yes. The trust office remains responsible for the policy and the decisions. We carry out the investigation and document it.