1. Under the Dutch Anti-money Laundering and Terrorism Finance Act (Wet ter voorkoming van witwassen en financieren van terrorisme: 'Wwft') the contractor will be obliged to report a transaction carried out or intended, insofar as it has been detected in connection with the activities, to the Reporting Centre of Unusual Transactions. In addition, under the Wwft the contractor will be obliged to conduct a client investigation with regard to a potential client. This entails for instance the identification of the potential client and his ultimate stakeholders as well as verification of his identity prior to the activities. The client will cooperate fully with regard to the client investigation.
2. The client will enable the contractor to comply with all current legislation and regulations on account of the Wwft and will inform the contractor immediately (on request or voluntarily) about any changes in the legal structure, the ultimate stakeholders, control structures and financial setup of the client or the group of which the contractor is a member.
3. The client has an independent duty to comply with the applicable legislation and regulations in the area of personal data protection. The client guarantees that all information provided by the client (including the provision to the contractor) complies with the applicable legislation and regulations in the area of personal data protection. The client indemnifies the contractor against any claims by third parties in connection with the client's non-compliance with this legislation and these regulations. Such indemnification shall also apply to any damages and costs sustained or incurred by the contractor in connection with any such claim.