Intensified monitoring of WWFT compliance

The Office for the Supervision of Money Laundering and Financing of Terrorism (WWFT) will intensify its monitoring of compliance with the WWFT. These regulations have been in place since 2008, but with the strong emergence of domiciliation providers, such as address service providers, and the increased risk that companies or individuals with malicious intentions will make use of them, intensification is necessary.

The use of an address service, without proper prior verification, can become a cover for criminal activities, such as rogue web shops, money laundering, drug dealers or fraudsters.

Domiciliary providers have a legal gatekeeper function. They must filter out and keep out these types of companies and individuals through a series of checks. In addition, they have a reporting obligation. Even if noteworthy transactions or activities are found with already existing clients.

We welcome these controls. There are too many "cowboys" who think they can make a quick buck with spotty rates and without any checks on customer legitimacy. Not to mention the quality to be delivered.

Postadres.nl therefore wholeheartedly supports the increasingly loud call for mandatory registration of domiciliation providers. This will eliminate rogue or untrustworthy domiciliary providers.

Postadres.nl has been committed to compliance for 30 years. We therefore comply with the WWFT obligations. This is not only reassuring for us but also for our clients.

For more government information on the WWFT: https://www.rijksoverheid.nl/onderwerpen/financiele-sector/aanpak-witwassen-en-financiering-terrorisme

You can read about how we handle this gatekeeper function in our General Terms and Conditions (Art. 9).