Received feedback from the Financial Intelligence Unit

The Central Office for Financial Transaction Investigations (Financial Intelligence Unit, or FIU for short) shall provide the obliged entity with feedback on the relevance of its report within a reasonable time.

The Financial Intelligence Unit collects and examines reports on suspicious financial transactions. The English name of the agency and its corresponding abbreviation are often used: Financial Intelligence Unit (FIU). Its goal is to prevent, detect, and prosecute money laundering and terrorist financing.

As an obliged entity, you must report suspicious financial transactions to the FIU under certain conditions. If you have submitted such suspicious transaction reports, you will receive feedback from the FIU within a reasonable time regarding the relevance of your reports.

If through this feedback you obtain knowledge of personal data, these data may be used exclusively for the improvement

• of one's own reporting behavior
• of one's own risk management:
  • Risk analysis and subsequent security measures against money laundering and terrorist financing
• the fulfillment of one's own due diligence obligations, among other things:
  • Identification of the contracting party and, where applicable, the person acting on their behalf
  • Verification of whether the person acting on behalf of the contracting party is authorized to do so
  • Determination and identification of the beneficial owner:
    • the person who owns or controls the contracting party or
    • the person upon whose initiative a transaction is carried out or a business relationship is established
  • Obtaining and evaluating information on the purpose and intended nature of the business relationship; determining whether the contracting party or the beneficial owner is a politically exposed person
    • Persons who hold or have held a prominent public function domestically 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
• at the latest after one year

• You will receive a confirmation of receipt for your suspicious transaction reports via goAML, the reporting portal of the Financial Intelligence Unit (FIU).
• The feedback reports will also be dispatched via goAML.

There is no deadline.

There are no costs involved.

• Objection
• lawsuit before the administrative court