Money laundering involves concealing or disguising the illegal origin of money or property. Even mere possession of money derived from criminal activities can be regarded as money laundering.
Definition of money laundering
Money laundering, as laid down in Articles 420bis to 420quater of the Dutch Criminal Code, includes:
- Concealing the origin of property derived from crimes
- Acquiring, possessing or transferring such property
- Using money derived from criminal activities
Types of money laundering
- Intentional money laundering (420bis) - You are aware of the criminal origin of the money. Maximum penalty: 6 years.
- Culpable money laundering (420quater) - You should reasonably have suspected that the money was illegal. Maximum penalty: 2 years.
- Habitual money laundering (420ter) - Repeatedly laundering money. Maximum penalty: 8 years.
Practical examples
- Depositing drug money in cash into a bank account
- Purchasing real estate with illegally obtained money
- Issuing false invoices to legitimize black money
- Moving money through international structures
- Using a business as a front for money laundering practices
Money laundering of one's own criminal proceeds
It is also punishable to launder money from a crime you yourself have committed. For example, if you earn money from drug trafficking and use it for purchases, you are guilty of both drug trafficking and money laundering.
Mandatory reporting
Institutions such as banks, notaries and real estate agents in Zoetermeer are obliged to report suspicious transactions to FIU-Nederland. This helps in detecting money laundering practices.
Forfeiture of criminal assets
In the event of a conviction for money laundering, the Public Prosecution Service (OM) may file a claim to forfeit the laundered amount. This means you lose the illegally obtained assets.
Frequently asked questions about money laundering in Zoetermeer
When am I liable for money laundering?
You are liable if you knowingly conceal or use money or property knowing it comes from a crime (intentional money laundering). Also if you should have suspected it was illegal money (culpable money laundering), you can be prosecuted. Even mere possession can be punishable. The penalty varies depending on the circumstances and repetition (habitual money laundering).
Can I unwittingly commit money laundering?
Yes, in the case of culpable money laundering (Article 420quater Criminal Code), you do not need to be certain that the money is criminal, but you should have suspected it. For example, accepting an unusually high cash payment without inquiry. The penalty can amount to 2 years' imprisonment.
What happens in case of suspicion of money laundering in Zoetermeer?
In case of suspicion, the Public Prosecution Service initiates an investigation, often via the District Court of The Hague. You may be arrested and interrogated. A conviction can lead to a prison sentence (up to 8 years for habitual money laundering) and forfeiture of criminal assets. A criminal record can impact employment or travel. Contact a lawyer or the Juridisch Loket Zoetermeer immediately for assistance.
Is money laundering of one's own crime proceeds punishable?
Yes, laundering money from one's own crime is also punishable. For example, if you deposit money from drug trafficking into a bank account, you are guilty of both drug trafficking and money laundering. This can lead to harsher penalties and forfeiture of the full amount.
What is the role of banks in Zoetermeer in money laundering?
Banks and other institutions have a legal duty to report suspicious transactions, such as large cash deposits, to FIU-Nederland. Failure to report can lead to sanctions. For customers, this may mean accounts are blocked and an investigation follows.