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Communication on Implementation of New Indicators List for GoAML reporting

11 Jan 2021 10:34 | Anonymous
The FIAU introduced a new list of indicators from January 1, 2021, to better capture similar characteristics from reports in a more granular manner, to improve data collection and the capacity of typology identification.
Thus, the reporting entities are kindly asked, with the aid of indicators, to capture all elements that can briefly summarise the main points of the suspicious transaction or situation being reported.
Such indicators include, but are not necessarily limited to the following:
i) the reason for suspicion;
ii) the predicate offence;
iii) the product offered to/used by the client in that situation;
iv) the main funding methods;
v) issues with the CDD process;
vi) whether the client was rejected for ML/FT concerns;
vii) if emerging threats/trends/patterns are observed;
viii) any involvement of high risk clients/jurisdictions etc.
Further to the additional indicators that have been added to the previously known list, we removed the following 8 indicators; as more detailed options were included instead.
Moreover, amount ranges have been replaced with the specific amounts reported in the suspicious transactions reports.


For those entities that use XML reporting, kindly consult the list of indicators on the updated XML schema technical documentation published on our website.
Kindly note that you are required to use the latest XML schema, otherwise reports submitted might fail validation.
XML Schema
               
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