As of August 1, 2008, the Dutch Act on Prevention of Money Laundering and Financing of Terrorism (Wwft) is in effect.
The Wwft applies to Colliers International in the Netherlands. We are required to conduct a client research prior to the start of our services. The Wwft requires us to identify and verify our clients. The Wwft only applies to services that are directly or indirectly related to the purchase and sale of real estate. If we suspect possible money laundering or terrorist financing dealings, then we are obliged to report this "unusual transaction" to the Financial Intelligence Unit Netherlands (FIU).