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Article (15)

DFL 20/2018 Effective from 23/10/2018

The Financial institutions and designated nonfinancial businesses and professions in addition to the virtual assets service providers shall, upon suspicion or if they have reasonable grounds to suspect a transaction or funds representing all or some proceeds, or suspicion of their relationship to the Crime or that they will be used regardless of their value, to inform the Unit without delay, directly and provide the Unit with a detailed report Including all the data and information available regarding that transaction and the parties involved, and to provide any additional Information required by the Unit, with no right to object under the confidentiality provisions.

However, Lawyers, notaries, other legal professionals and independent legal auditors shall be exempted from this provision if the information related to these operations have been obtained subject to professional confidentiality

The Executive Regulation of the present Decree-Law shall determine the rules, controls and cases of the obligation to report suspicious transactions

This article has been amended by Federal Decree-Law No. (26) of 2021. You are viewing the latest version. To view the previous version, click the version box below.
Version 1(effective from 23/10/2018 to 13/09/2021)

 

The Financial Institutions and Designated Nonfinancial Businesses and Professions shall, upon suspicion or if they have reasonable grounds to suspect a transaction or Funds representing all or some a Proceeds, or suspicion of their relationship to the Crime or that they will be used regardless of their value, to inform the FIU directly and without delay, and provide the FIU with a detailed report including all the data and information available regarding that transaction and the parties involved, and to provide any additional information required by the FIU, with no right to object under the confidentiality provisions. Lawyers, notaries, other legal professionals and independent legal auditors shall be exempted from this provision if the information related to these Transactions have been obtained subject to professional confidentiality. The Executive Regulation of the present Decree Law shall determine the rules, controls and cases of the obligation to report suspicious transactions.