Weidema van Tol is subject to the Act for the prevention of money laundering and financing of terrorism ("Wwft"). Under the Wwft, lawyers (“advocaten”) and tax specialists (“belastingadviseurs”) are required to perform due diligence prior to accepting a person or an entity as a client and, once accepted as a client, to monitor on an on-going basis if a client engages in what the Wwft deems an “unusual transaction”.
Identification
In respect of identification of a person or a legal entity Weidema van Tol shall, prior to accepting a mandate, need to review the following elements:
• Private individuals are invited to appear in person at the offices of Weidema van Tol and kindly requested to present the original of a valid identity document (passport, drivers’ license). Weidema van Tol will retain a copy thereof. Upon renewal of identity documents clients are obligated to provide Weidema van Tol automatically with a copy of the updated identity document.
• A legal entity validly registered with the Dutch trade register (“handelsregister”) will be identified by means of an electronic certified extract from the Commercial Register. Weidema van Tol will request the client to confirm that the information included in such extract is complete and accurate.
• A foreign legal entity, body corporate or partnership not registered in the Dutch trade register will be identified on the basis of valid documents internationally accepted for such purposes, or on the basis of documents recognized as an appropriate means of identification under the law of the legal entity's home jurisdiction. This may require Weidema van Tol to request potential clients to submit certificates confirming the due and valid organization and existence of the relevant legal entity under its local laws, which may involve such documentation to be apostilled. Depending the outcome of the above described review Weidema van Tol may in certain cases require that the ultimate beneficial owner(s) will also have to be identified.
Unusual transactions
Clients of Weidema van Tol accept that it is obligated under the Wwft that it must report what are deemed “unusual transactions” to the competent Dutch regulatory authority. In the event that it sees fit, this agency will report such a transaction to the public prosecutor who can subsequently decide to initiate a criminal investigation and/or prosecution. The Wwft deems the following transactions as unusual:
• transactions involving a cash payment of at least 15,000 euro;
• transactions giving rise to the suspicion that they may be related to money laundering or the financing of terrorism.
The Wwft prohibits Weidema van Tol from informing the client of the fact that a report has been submitted to the regulatory authorities.
Identification
In respect of identification of a person or a legal entity Weidema van Tol shall, prior to accepting a mandate, need to review the following elements:
• Private individuals are invited to appear in person at the offices of Weidema van Tol and kindly requested to present the original of a valid identity document (passport, drivers’ license). Weidema van Tol will retain a copy thereof. Upon renewal of identity documents clients are obligated to provide Weidema van Tol automatically with a copy of the updated identity document.
• A legal entity validly registered with the Dutch trade register (“handelsregister”) will be identified by means of an electronic certified extract from the Commercial Register. Weidema van Tol will request the client to confirm that the information included in such extract is complete and accurate.
• A foreign legal entity, body corporate or partnership not registered in the Dutch trade register will be identified on the basis of valid documents internationally accepted for such purposes, or on the basis of documents recognized as an appropriate means of identification under the law of the legal entity's home jurisdiction. This may require Weidema van Tol to request potential clients to submit certificates confirming the due and valid organization and existence of the relevant legal entity under its local laws, which may involve such documentation to be apostilled. Depending the outcome of the above described review Weidema van Tol may in certain cases require that the ultimate beneficial owner(s) will also have to be identified.
Unusual transactions
Clients of Weidema van Tol accept that it is obligated under the Wwft that it must report what are deemed “unusual transactions” to the competent Dutch regulatory authority. In the event that it sees fit, this agency will report such a transaction to the public prosecutor who can subsequently decide to initiate a criminal investigation and/or prosecution. The Wwft deems the following transactions as unusual:
• transactions involving a cash payment of at least 15,000 euro;
• transactions giving rise to the suspicion that they may be related to money laundering or the financing of terrorism.
The Wwft prohibits Weidema van Tol from informing the client of the fact that a report has been submitted to the regulatory authorities.