52. When the AML/CFT compliance officer transmits information to the FIU in accordance with Article …

When the AML/CFT compliance officer transmits information to the FIU in accordance with Article 33(2) of Directive (EU) 2015/849, he/she should ensure that the information is transmitted in a format and through means which comply with any guidelines issued by the national FIU, in an effective manner. As part of his/her role under that provision, the AML/CFT compliance officer should:

• a) understand the functioning and design of the transaction monitoring system, including scenarios covered according to the ML/TF risks posed to the credit or financial institution and internal procedures to handle alerts;
• b) receive reports from the credit or financial institution’s employees, agents or distributors, or reports generated otherwise by the credit or financial institution’s systems, of knowledge or suspicion of ML/TF, or that a person may have been, is or may be connected with ML/TF;
• c) ensure that these reports are considered promptly so as to determine whether there is knowledge or suspicion that funds are proceeds of criminal activity including ML/TF, or whether a person may have been, is or may be connected with ML/TF; the AML/CFT compliance officer should also determine, document and implement a prioritisation process for the internal reports received so that internal reports concerning especially high-risk situations are treated with the necessary urgency;
• d) while assessing the reports received, keep a record of all evaluations carried out as well as any feedback received from the FIU subsequently to improve the detection of future suspicious transactions;
• e) ensure that knowledge or suspicion of ML/TF or of a person’s connection with ML/TF are promptly reported to the FIU, submitting with the report such facts, events or information and documentation as necessary to substantiate the suspicion or instances of reasonable grounds to suspect ML/TF;
• f) ensure a prompt and exhaustive response to any request for information made by the FIU; and
• g) consider regularly the reasons why alerts of unusual activity or transactions were not escalated as internal reports so as to determine whether there are any issues that need to be addressed to ensure effective detection of suspicious activity or transactions.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/