Detecting Financial Crime Jobs

Working in Detecting Financial Crime

Making the world a safer place by tracing criminal money. That’s the mission of the Detecting Financial Crime (DFC) department. DFC combines all activities that are involved in detecting financial crime. By doing so, it embodies one of the bank’s priorities: the prevention of money laundering, terrorist financing and corruption.

What’s financial and economic crime?

Experts estimate that, worldwide, criminal transactions account for about 2,400 billion euros every year. Profits from drug trafficking and other criminal activities are usually laundered. But criminal money is used to finance other prohibited activities, such as terrorism, human trafficking and the illegal trade in animals, too.


Money laundering means that a criminal conducts financial transactions to conceal the illegal origins of his money. A criminal who has earned a million euros in cash from, say, drug or child trafficking can of course go grocery shopping every day, but he won’t have the freedom to spend his money as he might like. Paying for his dream home in cash using 50 or 100-euro bills would be a quicker way to spend it. But no buyer would accept such a payment and he’d probably get reported to the police. If a criminal wants to use criminal money to live his life, he’ll have to find a way to ‘funnel’ it into the formal economy. Money laundering inserts it into the financial system, thereby concealing its illegal origins.

How does ABN AMRO detect criminal transactions?

Of the 6.6 billion transactions processed by Dutch banks every year, only a small proportion qualifies as criminal. ABN AMRO makes every effort to detect these transactions. That’s our duty as a ‘gatekeeper’. Every day, over 1,400 ABN AMRO officers are screening new and existing clients (client due diligence) and/or monitoring unusual transactions.

 
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