Section 16
of Criminal Asset Recovery Order, 2012
Section 16
(1)
Financial institutions or designated non-financial businesses and professions and dealers in high value goods are required to submit promptly but no later than 5 working days a report to the Financial Intelligence Unit any currency transaction in an amount equal to or above the prescribed amount, whether conducted as a single transaction or several transactions that appear to be linked and shall also apply to any attempted transaction.
Incorporating amendments until S 22/2017
(Cleancopy) NHN/Amiriah/Bb/Karimah as of 26.12.2019
*Note: amendment on page 7,75,81,123 on 11.01.2020
34
BLUV as at 11th March 2017
(2)
For the purpose of this section, “dealer in high value goods” includes a person who deals in motor vehicles or person as the Authority may, by notification in the Gazette publish is a person who deals in high value goods.
Protection of identity of persons and information relating to suspicious transaction reports and cash transaction reports.