geldwassen

Geldwassen, or money laundering, is the process by which the proceeds of crime are transformed into seemingly legitimate assets or income, in order to conceal their illegal origin and integrate them into the formal economy.

It typically involves three stages: placement, where illegal funds enter the financial system; layering, which uses complex transactions to obscure the money trail; and integration, where the funds reappear as apparently legitimate wealth.

Common methods include using cash-intensive businesses, structuring deposits to avoid reporting thresholds (smurfing), creating shell companies or trusts, trade-based laundering, and cross-border transfers to obscure origin. Real estate purchases and luxury asset acquisitions are also used to legitimize illicit gains.

Legal framework and enforcement: in the Netherlands and the European Union, anti-money laundering and counter-terrorist financing controls are implemented under the Wet ter voorkoming van witwassen en financieren van terrorisme (Wwft) and EU directives. Financial institutions must perform customer due diligence, monitor transactions, keep records, and report suspicious activities to the FIU-NL (Meldpunt voor ongebruikelijke transacties). Supervisory authorities, such as the De Nederlandsche Bank (DNB) and the Autoriteit Financiële Markten (AFM), oversee compliance.

Penalties for money laundering can include imprisonment and fines, and may target individuals or organized crime networks. The practice damages the integrity of financial markets, enables organized crime, corruption, drug trafficking, and fraud, and undermines public trust.

International cooperation: the Netherlands collaborates with bodies such as the FATF and the Egmont Group, sharing information to combat cross-border laundering. Preventive measures include risk-based supervision, robust compliance programs, and public-private collaboration to detect unusual activity.