On the Prevention of Money Laundering and Terrorism Financing – 4

Reporting on Unusual and Suspicious Transactions

Section 30. Reporting Obligations

(۱) The subject of this Law has an obligation to:

۱) notify the Control Service without delay regarding each unusual transaction;

۲) notify the Control Service without delay regarding each suspicious transaction; and

۳) within seven working days following the receipt of a written request of the Control Service arising from the report of the subject of the Law or from information provided by the institution or authority specified in Section 62 of this Law, provide them information and documents that are at the disposal of the subject of the Law and which have been obtained by the subject of the Law when fulfilling the requirements of this Law, which are necessary for the performance of the functions provided for in this Law, regarding such a customer or transaction thereof, the origin of the funds and their further movement. Information and documents related to other transactions of such a customer shall be submitted, upon request, to the Control Service with the consent of the Prosecutor General or a specially authorised prosecutor. Taking into account the amount of urgent information and documents, the deadline for the provision of response to a request may be extended upon coordination with the Control Service.

(۲) The Cabinet shall issue the Regulation regarding the approved list of unusual transaction indications and the procedure for the submission of reports on unusual or suspicious transactions, and shall approve a form of the report.

(۳) The requirements referred to in Paragraph one of this Section and Chapter V of this Law shall not be applied to tax advisors, external accountants, sworn auditors, commercial companies of sworn auditors, sworn notaries, sworn lawyers and other independent providers of legal services in cases when they defend or represent their customers in a pre-trial criminal proceedings or judicial proceedings or advise on instituting or avoiding judicial proceedings.

(۴) Reports shall be submitted in a written or electronic form.

(۵) The control service has no right to disclose the data of such persons who have provided information on unusual or suspicious transactions. This restriction shall not apply to the cases provided for in Section 56, Paragraph one of this Law.

(۶) The subject of the Law shall, not later than on the following working day, register the reports provided to the Control Service and ensure their availability to supervisory and control authorities.

[۱۰ December 2009]

Section 31. Contents of the Report

The report to be submitted to the Control Service by the subject of the Law shall comprise the following:

۱) the customer identification data;

۲) a description of the planned, proposed, consulted, commenced, deferred, executed or approved transaction, as well as the identification data of the person participating in the transaction and the amount of the transaction, the time and place of the transaction executed or proposed and, if there are documents attesting to the transaction at the disposal of the subject of the Law, the copies of such documents; and

۳) the basis on which the subject of the Law considers the transaction to be suspicious, or the unusual transaction indication to which the relevant transaction conforms.