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  • AML-4.2 AML-4.2 External Reporting

    • AML-4.2.1

      Capital Market Licensees must take reasonable steps to ensure that all reports made under section AML-4.1 are considered by the MLRO (or his duly authorised delegate). Having considered the report and any other relevant information, if the MLRO (or his duly authorised delegate), still suspects that a Person has been engaged in Money Laundering or terrorism financing, or the activity concerned is otherwise still regarded as suspicious, he must report the fact promptly to the Relevant Authorities. Where no report is made, the MLRO must document the reasons why.

      Amended: January 2022
      Added: October 2010

    • AML-4.2.2

      To take reasonable steps, as required under rule AML-4.2.1, Capital Market Licensees must:

      (a) Require the MLRO to consider reports made under Section AML-4.1 in the light of all relevant information accessible to or reasonably obtainable by the MLRO;
      (b) Permit the MLRO to have access to any information, including Know Your Customer information, in the Capital Market Licensee's possession which could be relevant; and
      (c) Ensure that where the MLRO, or his duly authorised delegate, suspects that a Person has been engaged in Money Laundering or terrorist financing, a report is made by the MLRO which is not subject to the consent or approval of any other Person.
      Amended: January 2022
      Added: October 2010

    • AML-4.2.3

      Reports to the Relevant Authorities made under rule AML-4.2.1 must be sent to the Financial Intelligence Directorate at the Ministry of the Interior, and the CBB's Compliance Directorate using the Suspicious Transaction Reporting Online System (Online STR system). STRs in paper format will not be accepted.

      Amended: October 2019
      Amended: July 2016
      Amended: October 2014
      October 2010

    • AML-4.2.4

      Capital Market Licensees must report all suspicious transactions or attempted transactions. This reporting requirement applies regardless of whether the transaction involves tax matters.

      Amended: January 2022
      Added: October 2010

    • AML-4.2.5

      Capital Market Licensees must retain all relevant details of STRs submitted to the Relevant Authorities, for at least five years.

      Amended: January 2022
      Amended: July 2016
      Added: October 2010

    • AML-4.2.6

      In accordance with the AML Law, Capital Market Licensees, their Directors, officers and employees:

      (a) Must not warn or inform ('tipping off') their customers, the beneficial owner or other subjects of the STR when information relating to them is being reported to the Relevant Authorities; and
      (b) In cases where Capital Market Licensees form a suspicion that transactions relate to money laundering or terrorist financing, they must take into account the risk of tipping-off when performing the CDD process. If the Capital Market Licensee reasonably believes that performing the CDD process will tip-off the customer or potential customer, it may choose not to pursue that process, and must file an STR.
      Amended: January 2022
      Amended: January 2018
      Amended: July 2016
      Added: October 2010