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Feedback received from the Central Office for Financial Transaction Investigations


The Financial Intelligence Unit collects and investigates reports of suspicious financial transactions. The English name of the central office and the corresponding abbreviation are often used: Financial Intelligence Unit (FIU). Its aim is to prevent, detect and prosecute money laundering and terrorist financing.

As an obliged entity, you must report suspicious money movements to the Financial Intelligence Unit under certain conditions. If you have submitted such suspicious activity reports, you will receivefeedbackfrom the FIU on the relevance of your suspicious activity reports within a reasonable period of time.

If you gain knowledge of personal data through this feedback, this data may only be used to improve

  • your own reporting behavior
  • your own risk management:
    • Risk analysis and, based on this, security measures against money laundering and terrorist financing
  • the fulfillment of our own due diligence obligations, including
    • Identification of the contractual partner and, if applicable, the person acting on their behalf
    • Checking whether the person acting on behalf of the contractual partner is authorized to do so
    • Determining and identifying the beneficial owner:
      • the person who owns or controls the contracting party or
      • the person at whose instigation a transaction is carried out or a business relationship is established
    • Obtaining and assessing information on the purpose and intended nature of the business relationship; determining whether the contracting partner or the beneficial owner is a politically exposed person
      • Persons who hold or have held a high-ranking public office in Switzerland or abroad in the past 12 months
    • continuous monitoring of the business relationship

You must delete this personal data

  • as soon as they are no longer required for the stated purposes or
  • after one year at the latest

Process flow

You will receive confirmation of receipt of your suspicious activity reports via the reporting portal of the Financial Intelligence Unit (goAML). The feedback reports are also sent via goAML.

Requirements

You have submitted suspicious activity reports to the Central Financial Transaction Investigation Unit.

Which documents are required?

You do not need to submit any documents.

What are the fees?

There are no costs for you.

What deadlines do I have to pay attention to?

You do not have to meet any deadlines.

Processing duration

Feedback reports are generally prepared and sent out in the year following the reporting year.

Applications / forms

  • Forms: none
  • Online procedure possible: yes
  • Written form required: no
  • Personal appearance required: no

Technically approved by

Federal Ministry of Finance

Professionally released on

06.04.2021

Author

The text was automatically translated based on the German content.

Source: Serviceportal Niedersachsen (Portalverbund des Bundes und der Länder)