Within the framework of their notification and reporting procedures, intermediaries shall adopt measures to ensure maximum confidentiality with regard to the identity of the persons who make notifications; in this connection specific measures shall be adopted for the custody of the documents containing their identities.
The suspicious-transaction report sent to the UIC must be without any reference to the name of the person who made the notification. Such reports shall contain only the data identifying the unit headed by the company anti-money-laundering officer.
Any unnecessary disclosure of information must be avoided both inside and outside the intermediary; violation of this rule shall be penally punishable under Law 197/1991.
4.3 The suspension of transactions
Anti-money-laundering law provides for reports to be sent to the UIC “without delay, where possible before carrying out the transaction”. Institutions’ governing bodies shall therefore give appropriate instructions that will permit an equitable balance to be struck between the need for rapidity and the need for an adequate assessment of the transaction.
The lack of an explicit time limit within which reports are to be sent may not be interpreted as permission to inform the UIC beyond any reasonable lapse of time. An evaluation procedure that is not fully justified may jeopardize the statutory rule providing for the suspension of transactions, for up to forty-eight hours, to permit coordination with the investigating bodies.
Accordingly, intermediaries shall prepare adequate operational procedures for the evaluation of transactions that are being processed and the prompt and exhaustive supply of information to the UIC.
Maximum rapidity in submitting reports shall be ensured for transactions involving the disbursement to clients of significant amounts of cash or comparable instruments, especially where the transactions are carried out by persons subject to penal investigation or preventive impounding of assets or by persons related to such persons.
Intermediaries may give advance notice to the UIC by phone, fax or electronic means, inter alia in order to receive instructions on how to behave.
4.4 Use of computer programmes to select transactions
The decision whether to adopt computer programmes to assist the evaluation of transactions on the basis of predetermined parameters shall be left up to each intermediary.
The automatic identification of anomalous transactions may only play a supporting role in the evaluation of transactions with anomalous features since predetermined standards can be used only for some anomaly indicators and because money-laundering techniques are evolving constantly.
At all events intermediaries shall remain responsible for the ability of their internal evaluation procedures to ensure compliance with statutory obligations. The failure of an automatic system to pick up an anomaly shall not exclude the responsibility of the intermediary for the omission of a report on a suspicious transaction.