Financial Crime World

Financial Crimes Prevention in the Netherlands: Stay Ahead of Cyber Criminals and Other Threats

The Dutch government is taking measures to combat financial crimes, including cybercrime, and encourages businesses to take proactive steps to protect themselves from these threats. In this article, we will explore the different types of financial crimes that can affect your business, how to prevent them, and what measures you can take to stay safe.

Cybercrime

Cybercrime is a growing concern for many businesses in the Netherlands, with IT being the primary method and target of these crimes. To protect your business from cybercriminals, it’s essential to implement cybersecurity measures, such as:

  • Installing anti-virus software
  • Using strong passwords
  • Completing a risk assessment using the Digital Trust Center (DTC) website

If you have fallen victim to ransomware or other forms of cybercrime, there are resources available to help you recover. No More Ransom is a website that provides guidance on how to delete the software and get back to normal operations.

Financial Service Providers Must Report Suspicious Transactions

Businesses that offer financial services are required by law to report any unusual transactions to prevent money laundering and terrorist financing. By reporting these transactions, you can help prevent these illegal activities and maintain the integrity of the financial system.

Crypto Businesses and Custodial Wallets Must Register with DNB

Companies involved in cryptocurrency trading or offering custodial wallets must register with De Nederlandsche Bank (DNB) to ensure compliance with regulatory requirements.

Counterfeit Money Detection

If you suspect that a banknote is counterfeit, there are two ways to verify its authenticity:

  • Using the feel, look, and tilt method
  • Detecting it using equipment such as an ultra-violet (UV) lamp

The European Central Bank provides information on detecting counterfeit banknotes, and you should contact the Dutch police immediately if you have received a suspected counterfeit.

Shoplifting and Robbery Prevention

To prevent shoplifting and robbery, businesses can take measures such as:

  • Installing alarms and cameras
  • Claiming compensation for any damage or time spent dealing with the matter (through the Service Organisation Direct Liability (SODA) foundation)
  • Installing an alarm system on your premises (but may need an all-in-one permit for physical aspects)

If your business is a victim of robbery, Netherlands Victim Support provides emotional and legal assistance.

Internal Crime Prevention

Internal crime refers to criminal activity that takes place within your company, such as employee theft or fraud. To prevent internal crime, businesses can implement measures such as:

  • Screening new employees
  • Creating a blacklist of individuals who have engaged in illegal activities

Fraud and Deception Prevention

Fraud and deception are common forms of financial crime that can affect businesses. Invoice fraud is one example of this type of crime. Always carefully check the invoices you receive to ensure their authenticity.

If you become a victim of fraud, you can report it to the police or a special fraud hotline. The website fraudedesk.nl provides information on current trends and scams, allowing you to stay informed and protect yourself against these threats.

Extortion Prevention

In cases of extortion, criminals may use violence or intimidation to force businesses to pay money or deliver goods. If your business is targeted by an extortionist, it’s essential to report the incident to the police immediately.

Reporting Crimes to the Police

If your business becomes a victim of theft, burglary, robbery, fraud, internal crime, or cybercrime, you should report it to the police. You can do this at a police station, by telephone, or through their website (in Dutch). If you have filed an internet declaration, you can track the status of your report on My Police.

Secure Business Seal of Approval

The Secure Business Seal of Approval (Keurmerk Veilig Ondernemen) is a certification that recognizes businesses that have taken measures to secure themselves against burglary, robbery, and fire. By obtaining this seal, your business demonstrates its commitment to providing a safe environment for employees, customers, and stakeholders.

Platform Safe Entrepreneurship

Platform Safe Entrepreneurship is a partnership between the municipality, police, and fire service that aims to combat crime at a regional level. Businesses can join this platform through their trade association or business association.

Insurances Against Crime

In some cases, businesses may be able to insure themselves against certain types of crime. Contact your insurer to find out which types of crime are covered by your policy.

By staying informed and taking proactive steps to prevent financial crimes, Dutch businesses can protect themselves against these threats and maintain a safe and secure environment for all stakeholders.