Does your organization comply with the FIU checklist? Download the checklist here.

Anne de Geus
July 11, 2019 - Reading Time 4 minutes

If you are a notifiable financial institution or service provider, you are provided with a checklist to further enhance the fight against corruption. The checklist from the Financial Intelligence Unit Netherlands consists of 72 handles and pointers that should help detect various forms of corruption.

checklist in schrift

Fighting corruption globally to the next level

The Financial Intelligence Unit Netherlands is the body of the Dutch government to which banks, accountants, tax specialists and trust offices are obliged to report remarkable and unusual transactions. The above institutions have been given additional tools to detect corruption. The checklist is not only intended for financial institutions in the Netherlands. At a congress, 164 financial intelligence services worldwide pledged to enforce the checklist as well. They work together in the Egmont Group umbrella organization.

More work for compliance departments financial institutions and service providers

By publishing this checklist, the government body hopes to receive better quality reports. The FIU explicitly asks for information about transactions that may indicate corruption. In recent years, the number of reports has increased and the quality of the reports is improving. The expanded checklist may involve additional work for compliance departments. According to the FIU, it seems the only way to get a better picture of what is going on in the financial sector. Together they want to keep the financial world clean. "We really need each other for that," says FIU head Verbeek.

FIU checklist and external data can help prevent corruption

You want to minimize the extra work involved in following up the checklist. External data can help you with this. Read here how to maintain balance in compliance department through smart use of external data.

Download the full checklist here


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