Money laundering

Publication date 28-02-2025, 11:54 | Last update 02-04-2025, 13:48

By laundering money, criminals are able to use illegally obtained money in society or to finance terrorism. Among other things, the FIOD analyses money flows to confiscate wrongfully obtained assets from criminals.

What is money laundering?

With money laundering, criminals try to conceal the origin of money that came from crime. Such as drug trafficking or deception. Money laundering can be done in various ways. For example:

• drawing up false invoices or having them drawn up: this way, it appears as if the money was made through a company;
• depositing money into the account of a company in another country that does not check for money laundering as much;
• illegally converting money into cryptocurrencies such as bitcoin. For payments with these digital coins, no personal details are required. That is why they are popular with criminals for making illegal payments.

Cooperating in money laundering is punishable

Investigators estimate that €13 billion in criminal money is laundered in the Netherlands annually. This allows criminals to use this illegally earned money in society, or organise other crimes with the money. Cooperating in money laundering is punishable. Financial advisers, civil-law notaries, banks and other institutions are obligated to report suspicious payments to the Finance Intelligence Unit Netherlands (FIU Netherlands).

FIOD confiscates criminal money

The FIOD analyses criminal money flows and confiscates criminal money. Because crime should not pay. Among other things, the FIOD uses the money to compansate the victems. This contributes to the restoration of the sense of justice for the victims and society.

Cooperation to fight money laundering: The Anti Money Laundering Centre (AMLC)

The FIOD cooperates with other institutions in the Netherlands and abroad to fight money laundering. For example, as part of the AMLC with:

• The Netherlands Tax Authority
• National Police
• Financial Intelligence Unit-Netherlands (FIU).
• Public Prosecution Service (OM)

Reporting unusual money transactions

Institutions and professions that are obligated to report must report unusual transactions to FIU-Netherlands. FIU-Netherlands shares this information with the FIOD, among others.