Obligation

Am I obliged to report?

REPORTING OBLIGATION

Article 1 of the AML/CFT State Ordinance distinguishes the following service providers that are required to report unusual transactions to the FIU:

Accountants
Lawyers and legal advisers
Administration offices
Banks
Tax advisers
Investment institutions
Casinos and Internet casinos
Factoring companies
Money transfer companies
Dealers in goods of great value
Collection agencies
Life insurers or brokers
Estate agents
Notaries
Pawnshops
Trust offices

The above list is not exhaustive. You are (also) obliged to report unusual transactions if you perform one or more of the services below (article 1, section 1 of the AML/CFT State Ordinance).

Financial service providers

Anyone who on a commercial basis conducts one or more of the following activities or operations to or for the benefit of a client:

to accept deposits and other repayable funds from the public;
to grant loans;
financial leasing, with the exception of consumer-related leasing;
to transfer or cause the transfer of money or monetary values;
to issue and manage means of payment other than money, at any rate including credit cards, debit cards, checks, traveler’s checks, bank and money orders, and electronic money;
to provide financial guarantees and commitments;
to trade in money market instruments, foreign currencies, payment instruments, shares, interest and index instruments, transferable securities and commodities futures trading;
to participate in the issue of securities and to provide financial services related to this issue;
to manage individual and collective investment portfolios;
to receive for safekeeping and manage cash or liquid securities on behalf of third parties;
to otherwise invest, administer or manage funds or monies on behalf of third parties;
to underwrite, redeem and pay, as well as to act as intermediary, in the underwriting, redeeming and payment of life insurance agreement as meant in Article 1 of the State Ordinance Supervision Insurance Business (AB 2000 no. 82), and other investment-related insurance products;
to exchange money and foreign currency;

Designated non-financial service providers

a natural person, legal person, corporation or partnership that acts as a lawyer, civil-law notary, tax adviser or in the exercise of a similar legal profession or company;
a natural person, legal person, corporation or partnership that acts as an external registered accountant, an external accountant-administration consultant or a similar profession;
a natural person, legal person or corporation which on a commercial or professional basis trades on or acts as an intermediary in the purchase and sale of real estate, vehicles, ships, aircraft, objects of arts, antiquity, and the rights to which these objects can be subjected;
a natural person, legal person or corporation which trades in precious metals, precious stones and jewels on a commercial or professional basis;
a casino as meant in Article 1, first paragraph, of the State Ordinance Games of Hazard (AB 1990 no. GT 44), as well as an internet casino;
a trust and company service provider as meant in Article 1 of the State Ordinance Supervision Trust and Company Service Providers (AB 2009 no. 13);