What is meant by suspicious activity reporting?
If there are indications of money laundering, companies are obliged to report the suspicion. This includes the suspicion that assets originate from an illegal source, transactions are connected to terrorist financing or contractual partners do not disclose their beneficial owners. In these cases, the obligated party must report the facts to the Central Financial Transaction Investigation Unit (FIU) via the reporting portal goAML. The authorities investigate the reports and initiate an investigation if necessary.
Which suspicious behaviour must lead to a report is regularly explained by the FIU in so-called sector-specific "typology papers". Typology papers deal with typical practices of money launderers and can thus help obligated persons to better recognise and report suspicious behaviour. In order to access the reporting portal and the typology papers, obligated persons must have access to the internal area of the FIU.