Section 7S: Reporting of Suspicious Transections

1) The reporting entity shall immediately report the suspicious transaction to the financial information entity after examining the following circumstances about the customer, business or property:

(a) is suspected or has reasonable grounds to suspect that any of the offences relate to, or are related to, financial investments or other offences in the creation and expansion of weapons of mass destruction or terrorist acts or

(b) any property belonging to or connected with an act of terrorism, a terrorist person or a terrorist organisation or the financing of a terrorist act, or where there is suspicion or reasonable ground to suspect that such act or act may be used by such person or organisation.

2) The reporting entity shall report suspicious transactions pursuant to sub-section (1), including only if the customer attempts to make a transaction.

¹2A) If it is found that the customer has noticed a suspicious transaction in accordance with sub-sections (1) or (2), the customer shall be identified or updated after submitting a report regarding the suspicious transaction to the indicating institution.

3) The Financial Information Unit shall prescribe the format, method, and procedure for reporting suspicious transactions as a basis for identifying suspicious transactions.

^{1Added by Act, 2080 to amend certain Acts relating to Prevention of Money Laundering and Promotion of Business Environment.}