As an organisation subject to the Wwft, you are required to take measures that prevent your services from being used for money laundering or terrorist financing. Your organisation must be set up in such a way that you can demonstrate compliance with the requirements of the Wwft.
What is the Wwft?
The Wwft requires organisations to carry out thorough client due diligence and gain a clear picture of the client to whom services are provided. The following are also essential:
- a written policy including a risk assessment;
- a written risk management policy;
- meeting the obligation to report unusual transactions;
- complying with the record-keeping obligation.
Challenges in day-to-day practice
Many organisations find it difficult to apply the Wwft rules correctly at all times. This is mainly due to the complexity of the regulations, but the size of the organisation also plays a part. Does this sound familiar? Don’t worry. We support you in meeting your Wwft obligations, with a Wwft manual and accompanying policy.
Tailored support
Our Wwft manuals and policy documents give your organisation the tools to comply with the Wwft rules. Among other things, they help you to:
- carry out client due diligence;
- identify the UBO (ultimate beneficial owners) and PEPs (politically exposed persons);
- set up risk management as effectively as possible.
A solution that suits you
We tailor the Wwft manual entirely to your organisation, taking into account your firm’s profile, business activities, target group and specific risks. We have specific solutions for: