News

The Cornerstone Report

Safeguarding America Through Financial Investigations

June 2009 - Table of Contents

Conclusion

Because of the type of service, a clean, fast relocation of money and limited personal contact with the provider, money transfers remain vulnerable to exploitation by criminals. Given the importance of the type of service in providing families abroad with the necessary resources, money transfer businesses fulfill a crucial role in the society. However, policymakers, regulators and law enforcement should not close their eyes to the vulnerabilities of money transfer businesses in the financial system. In the Netherlands, the information on all money transfers is used to detect possible criminal offenses. Solid cooperation between financial regulators, the FIU and law enforcement enables the Netherlands to successfully combat the exploitation of money transfer businesses