In this annual review, FIU-the Netherlands shares the most important figures, trends and developments from 2024.

In the aftermath of the unjustified invasion of Ukraine by the Russian Federation (Russia), the financial intelligence units[1] of the Netherlands (FIU-NL), Germany (FIU DE), and Canada (FINTRAC) received reports from a variety of sources describing the suspected illegal export, or attempted export, of dual-use goods to Russian end-users in violation of current sanctions or export control-related legislation.

During the corona pandemic, the so-called NOW regulation provided financial compensation for Dutch companies with substantial loss of revenue. The government support was specifically intended for paying salaries and keeping staff employed. Through reports of banks and notaries we identified several cases of misuse of the NOW regulation. In this combined case study, you can read about our efforts and findings.

This case study, focusing on cryptocurrency transactions, shows how valuable an objective report can be.

In this case, we examine a report submitted by a bank. Analysis of an unusual transaction gave rise to a suspicion of sanctions evasion through the export of dual-use goods to Russia.

Criminals use various methods for money laundering. Especially shell companies and companies set up by straw owners are popular. These arrangements are often set up by intermediaries, leaving the real instigators out of sight. Reports of unusual transactions help us trace illegal financial structures.

At FIU-the Netherlands, we frequently analyse networks, sometimes in collaboration with other organisations such as Fintell Alliance.* Reports of unusual transactions we receive are always the starting point.

Analysis by FIU-the Netherlands has shown that large, well-known companies in labour-intensive sectors such as construction and parcel delivery place work orders with (sub)contractors and pay them in cash. At these subcontractors, however, no or hardly any giro-based wage payments take place; employees are paid in cash.

Recently, several organizations have been contacted by email and phone by scammers posing as FIU- the Netherlands. For example, they ask for your ID or IBAN number. Or they want you to transfer money directly. Be alert to this. FIU-the Netherlands will never ask you for this information.