Suspicious transaction reporting required; intermediaries must immediately notify the Money Laundering Control Officer and not inform the client. Intermediaries must implement Suspicious Transaction Monitoring & Reporting by identifying indicators such as unclear fund sources, high risk jurisdictions, large cash deposits, cross border cash transfers, transfers to unrelated third parties, and dealings with shell or offshore entities. On suspicion, a detailed report identifying the client, transactions and reasons must be sent immediately to the Money Laundering Control Officer or designated officer; normal client dealings should continue until instructed otherwise and the client must not be informed, though in exceptional cases account operations may be suspended or other actions taken.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Suspicious transaction reporting required; intermediaries must immediately notify the Money Laundering Control Officer and not inform the client.
Intermediaries must implement Suspicious Transaction Monitoring & Reporting by identifying indicators such as unclear fund sources, high risk jurisdictions, large cash deposits, cross border cash transfers, transfers to unrelated third parties, and dealings with shell or offshore entities. On suspicion, a detailed report identifying the client, transactions and reasons must be sent immediately to the Money Laundering Control Officer or designated officer; normal client dealings should continue until instructed otherwise and the client must not be informed, though in exceptional cases account operations may be suspended or other actions taken.
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