Section 13: Dissemination of information by Director
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
13. Dissemination of information by Director
(1) Where there are grounds to suspect money laundering, predicate offences or terrorism financing, the Director shall disseminate information and
the results of the analysis of FIU to the relevant investigatory authority, supervisory authority, overseas financial intelligence unit or comparable body
for appropriate action.
(2) Where a report of a suspicious transaction is made under section 14,
the Director may, notwithstanding section 300 of the Criminal Code or any
other enactment, for the purpose of assessing whether any information
should be disseminated to investigatory or supervisory authorities, request
further information in relation to the suspicious transaction from—
(a) the bank, financial institution, cash dealer or member of a relevant profession or occupation who made the report; and
(b) any other bank, financial institution, cash dealer or member of a
relevant profession or occupation who is, or appears to be, involved in the transaction.
(3) Where—
(a) FIU becomes aware of any information which gives rise to a reasonable suspicion that a money laundering offence or a terrorism
financing offence might have been committed or is about to be
committed; or
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Financial Intelligence and Anti-Money Laundering Act
(b) a request for information is made by any investigatory or supervisory authority, Government agency or overseas financial intelligence unit or comparable body,
the Director may, notwithstanding section 300 of the Criminal Code, section 64
of the Banking Act or any other enactment, for the purpose of assessing
whether any information should be disseminated to the investigatory or supervisory authority, Government agency or overseas financial intelligence
unit or comparable body, request further information in relation to the suspicious transaction from any bank, cash dealer, financial institution or member
of a relevant profession or occupation which is or who is involved, or appears to be involved, in the transaction.
(4) Where a bank, financial institution, cash dealer or member of a relevant profession or occupation receives a request for further information under
subsection (2) or (3), the bank, financial institution, cash dealer or member of
the relevant profession or occupation shall, as soon as practicable, but not
later than 15 working days, furnish FIU with the requested information.
(5) Where a report of a suspicious transaction has been made under section 14, the Director shall—
(a) in the case of a bank, financial institution or cash dealer, not later
than 15 days before the end of the 7th year following the completion of the transaction to which the suspicious transaction report relates; or
(b) in the case of a member of a relevant profession or occupation,
at any time,
by written notice, require the bank, financial institution, cash dealer or member of the relevant profession or occupation, as the case may be, to keep the
records in respect of that suspicious transaction for such period as may be
specified in the notice.
[S. 13 amended by s. 3 (d) of Act 34 of 2003 w.e.f. 27 September 2003; s. 11 (c) of Act 20
of 2011 w.e.f. 16 July 2011; s. 11 (f) of Act 27 of 2012 w.e.f. 22 December 2012; s. 17 (e)
of Act 27 of 2013 w.e.f. 21 December 2013.]
PART IV – REPORTING AND OTHER MEASURES TO COMBAT
MONEY LAUNDERING