Cryptocurrencies and the Dutch Anti‑Money Laundering and Counter‑Terrorist Financing Act

Accountants, notaries, lawyers, and other parties are required to conduct risk-based investigations into the origin of cryptocurrencies. This obligation stems from de Dutch law 'Wet ter voorkoming van witwassen en financieren van terrorisme', also called the Dutch Anti‑Money Laundering and Counter‑Terrorist Financing Act.  In the coming years, these rules will become even stricter under the Anti‑Money Laundering Regulation (AMLR), the new EU regulation aimed at strengthening existing anti‑money laundering rules

How do you investigate cryptocurrencies?

Cryptocurrencies such as Bitcoin and Ethereum use blockchain technology, centred around a decentralized ledger (distributed ledger). This ledger records transactions in a transparent and immutable way, without the intervention of a central authority. Although transactions are transparent and traceable, users typically remain pseudonymous. This makes investigating the origin of crypto assets complex.

Start with the client and request proof of ownership: screenshots of wallet balances, transaction histories from trading platforms, purchase receipts, and relevant bank statements. Check whether the platform used is regulated and, where possible, request export data or customer information. For preliminary checks, public blockchain explorers (such as Blockchain.com or Blockchair) can be useful. Additionally, price information via CoinMarketCap or CoinGecko helps assess value claims.

The legal burden of proof lies with the client. Missing or unverifiable information increases the risk of money laundering and may justify enhanced due diligence or refusal of services.

How can DataExpert help?

DataExpert can support your organization with training, research, and advisory services. Think of on-site training (all levels) and specialized investigations. Certified analysts conduct tracing investigations into money flows and present findings in an accessible manner.

Get in touch with our crypto specialists at +31(0)683644172 or email us at crypto@dataexpert.nl