FC-3.1.4
Past version: Effective from 01 Apr 2011 to 30 Sep 2014
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Banks must:
(a) Maintain records (in accordance with Chapter FC-7 of this Module) of all originator information received with an inward transfer; and
(b) Carefully scrutinise inward transfers which do not contain originator information (i.e. full name, address and account number or a unique customer identification number). Licensees must presume that such transfers are 'suspicious transactions' and pass them to the MLRO for review for determination as to possible filing of an STR, unless (a), the sending institution is able to promptly (i.e. within two business days) advise the licensee in writing of the originator information upon the licensee 's request; or (b) the sending institution and the licensee are acting on their own behalf (as principals).
Amended: April 2011
October 07
October 07