The WWFT (Wet ter voorkoming van witwassen en financiering van terrorisme) is a Dutch law that requires organizations to take measures against financial-economic crime. Consider:
-
Laundering of criminal money
-
Financing terrorism
-
Use of sham structures to hide ownership or money flows
The WWFT applies to, among other things:
-
Banks and insurers
-
Notaries and accountants
-
Domicile providers such as Flexado
As a service provider in virtual offices and business mailing addresses, Flexado falls under the supervision of the tax authorities and the WWFT supervisory office.. This means that we are obliged to:
-
Conduct customer research (KYC / Know Your Customer).
-
Identify UBOs (ultimate interested parties)
-
Report unusual transactions to the FIU (Financial Intelligence Unit Netherlands)
-
Keep records current (recurring compliance)
Learn more:
