All provisions · AML/CFT Act (Cap. 251) · Part V: Functions of fiu
28 Access to information and analysis function
(1) In relation to any information it has received in accordance with its functions, the FIU is authorised to obtain from any reporting entity any additional information that it deems necessary to properly carry out its analysis and the information requested shall be provided within such reasonable period and in such form as shall be specified by the FIU.
(2) The FIU may access during working hours and review information that belongs to or is in the custody of a reporting entity as the FIU deems it appropriate for the fulfilment of its functions under the provisions of this Act.
(3) Nothing in this section shall infringe legal professional privileges between an Attorney-at-Law and his or her client in respect of information communicated to the Attorney-at-Law by his or her client notwithstanding anything covered under Paragraph 2 of Part C of Schedule 1.
(4) The FIU may, in order to conduct proper analysis, obtain, where not otherwise prohibited by law, any financial, administrative or law enforcement information and any relevant information collected or maintained by or on behalf of other authorities and, where appropriate, commercially held data, including—
(a) a law enforcement authority;
(b) any authority responsible for the supervision of the entities and persons subject to this law;
(c) tax authorities;
(d) customs; and
(e) any other public agency.
(5) The FIU’s analysis function shall consist of—
(a) the operational analysis, which focuses on individual cases and specific targets, activities, transfers or transactions or on applicable selected information to determine links between targets and possible proceeds of crime, money laundering and terrorist financing activities and other criminal activities; and
(b) the strategic analysis, identify money laundering and terrorist financing related trends and patterns.
(Amended by Act 12 of 2024)
(6) The procedures regarding security and confidentiality of the information obtained by the FIU, procedures for handling, storage, dissemination, protection and access to such information shall be such as may be specified by FIU.
(7) The FIU may impose administrative sanctions referred to in section 60(3) on a reporting entity to whom this Act applies if satisfied that the reporting entity has failed to fully comply with a lawful request for information made under subsection (1) or to a directive issued under section 27(1)(d) or (e). (Inserted by Act 7 of 2021)
(8) A reporting entity shall take all necessary measures to ensure the accuracy of the information submitted to the FIU under subsection (1) or to comply with a directive issued under section 27(1)(d) or (e). (Inserted by Act 7 of 2021)
(9) A reporting entity which intentionally fails to provide the FIU with accurate information under subsection (1) or to comply with a directive issued under section 27(1)(d) or (e), commits an offence and is liable on conviction to a fine of level 3 on the standard scale. (Inserted by Act 7 of 2021)
(2) The FIU may access during working hours and review information that belongs to or is in the custody of a reporting entity as the FIU deems it appropriate for the fulfilment of its functions under the provisions of this Act.
(3) Nothing in this section shall infringe legal professional privileges between an Attorney-at-Law and his or her client in respect of information communicated to the Attorney-at-Law by his or her client notwithstanding anything covered under Paragraph 2 of Part C of Schedule 1.
(4) The FIU may, in order to conduct proper analysis, obtain, where not otherwise prohibited by law, any financial, administrative or law enforcement information and any relevant information collected or maintained by or on behalf of other authorities and, where appropriate, commercially held data, including—
(a) a law enforcement authority;
(b) any authority responsible for the supervision of the entities and persons subject to this law;
(c) tax authorities;
(d) customs; and
(e) any other public agency.
(5) The FIU’s analysis function shall consist of—
(a) the operational analysis, which focuses on individual cases and specific targets, activities, transfers or transactions or on applicable selected information to determine links between targets and possible proceeds of crime, money laundering and terrorist financing activities and other criminal activities; and
(b) the strategic analysis, identify money laundering and terrorist financing related trends and patterns.
(Amended by Act 12 of 2024)
(6) The procedures regarding security and confidentiality of the information obtained by the FIU, procedures for handling, storage, dissemination, protection and access to such information shall be such as may be specified by FIU.
(7) The FIU may impose administrative sanctions referred to in section 60(3) on a reporting entity to whom this Act applies if satisfied that the reporting entity has failed to fully comply with a lawful request for information made under subsection (1) or to a directive issued under section 27(1)(d) or (e). (Inserted by Act 7 of 2021)
(8) A reporting entity shall take all necessary measures to ensure the accuracy of the information submitted to the FIU under subsection (1) or to comply with a directive issued under section 27(1)(d) or (e). (Inserted by Act 7 of 2021)
(9) A reporting entity which intentionally fails to provide the FIU with accurate information under subsection (1) or to comply with a directive issued under section 27(1)(d) or (e), commits an offence and is liable on conviction to a fine of level 3 on the standard scale. (Inserted by Act 7 of 2021)
Official source: Anti-Money Laundering and Countering the Financing of Terrorism Act (Cap. 251), Act 5 of 2020, Revised Edition as at 17 January 2025 (Acts 5 of 2020, 7 of 2021, 8 of 2021, 62 of 2021, 9 of 2022, 12 of 2024, S.I. 145 of 2020)
