PROTECTION OF INFORMATION WITH THE FIU
Information received, accessed, processed, in the possession of or disseminated by the FIU is subject to strict confidentiality laws and safety measures.
Safety mechanisms for the exchange and use of information are in accordance with the Operational Policies and Procedures for FIUs internationally as prescribed by the Egmont Group FIUs. These Operational Procedures and Policies specify clear rules governing the security and confidentiality of information in possession of and shared by the Unit, including disciplinary measures and criminal liability for unlawful disclosures.
The staff members of the FIU are required to undergo various levels of security clearance based on their responsibilities and the need for access to and use of the sensitive and confidential information received and/or possessed by the Unit.
Generally, access to the FIU’s facilities, information and IT systems is restricted to authorized personnel only.
PROTECTION FOR REPORTING ENTITIES FOR DISCLOSING INFORMATION TO THE FIU
Reporting entities are protected by law from criminal and civil liability for the breach of any restriction on disclosure of information imposed by contract or by any legislation, provided the report is made in good faith by a Compliance Officer or some other duly authorized officer. This exemption is protected whether or not the Officer knows the underlying criminal activity or whether a crime has actually occurred.
Tipping off is the act of alerting a customer, person or entity that a report was or is about to be filed with the FIU or that there is an ongoing investigation pertaining to that customer, person or entity. It is an offence for a person who knows or suspects that a suspicious transaction report or related information has been or will be reported to the FIU, to divulge that fact to another, whereby the investigation is likely to be prejudiced.
PENALTY FOR THE OFFENCE OF TIPPING OFF
Section 5(2) of the AMLCFT Act (2009) stipulates the penalties for the offence of tipping off as follows:
- A fine of one million dollars; and
- Imprisonment for three years.