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16.22 Tipping Off

N 35/2018 STA
  1. 16.22.1Tipping off is prohibited and is a punishable criminal offence. The Licensed Person or its employees must not inform customers or any persons or third parties, either directly or indirectly, that their transactions are subject to monitoring, are under investigation or have been reported to the FID as suspicious transactions; and
  2. 16.22.2The Compliance Officer must ensure that all employees of the Licensed Person are aware of the consequences of tipping off such as penalties and imprisonment. Sufficient AML/CFT training must be provided to all employees to avoid tipping off.