Novelist is legally required to ask for information about your source of income and the origin of your wealth. This obligation stems from the Money Laundering and Terrorist Financing (Prevention) Act (Wwft). The purpose of this law is to ensure the integrity of business operations and to prevent companies from becoming knowingly or unknowingly involved in money laundering or terrorist financing.
Why is this important?
In accordance with the Wwft, Novelist is required to conduct thorough checks on its clients. By asking about your source of income and the origin of your wealth, we ensure compliance with these legal obligations. This protects both you and Novelist from the misuse of financial services for illegal activities.
How is this information used?
The information you provide is used exclusively internally. Your data is processed to comply with the law and is never shared with third parties for commercial purposes. Protecting your privacy and adhering to the law are top priorities for Novelist.
For more information about the Wwft, you can visit the website of the Dutch Authority for the Financial Markets (AFM).