Feedback received from the Central Office for Financial Transaction Investigations

The Central Office for Financial Transaction Investigations (Finance Intelligence Unit, FIU for short) provides the obligated party with feedback on the relevance of its report within a reasonable period of time.

The Financial Intelligence Unit collects and investigates reports of suspicious financial transactions. The English name of the central office and the corresponding abbreviation are often used: Financial Intelligence Unit (FIU). Its aim is to prevent, detect and prosecute money laundering and terrorist financing.

As an obliged entity, you must report suspicious money movements to the FIU under certain conditions. If you have submitted such suspicious activity reports, you will receivefeedbackfrom the FI Uon the relevance of your suspicious activity reports within a reasonable period of time.

If you gain knowledge of personal data through this feedback, this data may only be used to improve

• your own reporting behavior
• your own risk management:
  • Risk analysis and, based on this, security measures against money laundering and terrorist financing
• the fulfillment of your own due diligence obligations, including
  • Identification of the contractual partner and, if applicable, the person acting on their behalf
  • Checking whether the person acting on behalf of the contracting partner is authorized to do so
  • Determining and identifying the beneficial owner:
    • the person in whose ownership or under whose control the contracting party is, or
    • the person at whose instigation a transaction is carried out or a business relationship is established
  • Obtaining and assessing information on the purpose and intended nature of the business relationship; determining whether the contracting partner or the beneficial owner is a politically exposed person
    • Persons who hold or have held a high-ranking public office in Switzerland or abroad in the past 12 months
  • Continuous monitoring of the business relationship

You must delete this personal data

• as soon as it is no longer required for the stated purposes or
• after one year at the latest

You do not need to submit any documents.

• Forms: none
• Online procedure possible: yes
• Written form required: no
• Personal appearance required: no

They have submitted suspicious activity reports to the Financial Intelligence Unit (FIU).

• Objection
• Action before the administrative court

• You will receive confirmation of receipt of your suspicious activity reports via goAML, the reporting portal of the Financial Intelligence Unit (FIU).
• The feedback reports are also sent via goAML.

There is no deadline.

Feedback reports are generally prepared and sent out in the year following the reporting year.

There are no costs.