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11 November 2019 Supervision Supervision label Factsheet

Criminal indemnification and civil indemnification

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Section 19 of the Wwft provides for criminal indemnification and Section 20 for civil indemnification.

Criminal indemnification ensures that data or information provided by an institution that reports an unusual transaction in good faith cannot be used in a criminal investigation or prosecution of that institution on suspicion of money laundering or terrorist financing.

Civil indemnification means that an institution cannot be held liable under civil law for the loss suffered by another party (e.g. the customer or a third party) as a result of a report as long as the institution acted on the reasonable assumption that it had fulfilled its reporting duty. For instance, claims in civil proceedings could be brought for breach of contract if the institution decided not to carry out a transaction but to report it. Legal action over an unlawful act is also possible, if a customer claims alleged loss suffered as a result of an institution’s unusual transaction report.

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