Concerns about criminals laundering money through construction, parcel services and healthcare

This article was last updated on June 28, 2024

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Concerns about criminals laundering money through construction, parcel services and healthcare

Banks and other financial institutions reported twice as many suspicious transactions last year as the year before. The more than 180,000 reports amounted to more than 25 billion euros in black money. The Financial Intelligence Unit (FIU-Netherlands), a central reporting point where unusual financial transactions must be reported, writes this in the annual report about 2023.

In the report, the investigation service is very concerned about a growing phenomenon called Trade Based Money Laundering. Gangs try to launder money through existing companies. This mainly concerns companies that work with many employees, such as in construction, transport and parcel delivery, especially subcontractors and rogue employment agencies.

Because banks have imposed stricter controls on paying salaries with dirty money, more and more entrepreneurs are being tempted to pay employees in cash with criminal money.

According to the FIU, this appears to happen on the one hand on a small scale between friendly entrepreneurs and criminals, and on the other hand on a professional level via underground bankers. “Some of the work that our society relies on appears to be paid for with criminal cash,” the FIU warns in the annual report.

It is remarkable that the more than 180,000 reports last year were mainly made by one bank and one payment processor. Together they reported more than half of all unusual transactions at 55 percent. The FIU does not report which two institutions are involved.

Healthcare fraud

Although the FIU does not mention any figures, the investigative service also sees a growth in healthcare fraud. While this used to happen mainly by individuals, it is increasingly happening in an organized context. The FIU talks about real networks of “serious criminals” who jointly commit healthcare fraud.

Yesterday, ministers Dijkgraaf and Helder already reported that they are concerned about (criminal) fraud networks in healthcare. An initial investigation by the inspectorates shows that a group of self-employed people is linked to fencing, cybercrime, theft, explosive raids, trade in hard and soft drugs, violent and property crimes, fraud, muggings and robberies.