The Financial Intelligence Centre – FIC – published a communication last week relating to reporting of accountable and reporting institutions to FIC.

As you well know, reporting like CTR (cash threshold reporting) and STR (suspicious transaction reporting) is required to be done within the stipulated compliance periods.  Power outages, both from the reporting institutions and FIC, can result in a potential breach of the reporting periods.

The message from FIC is: “Institutions are advised to keep record of attempts to register or submit reports to the FIC during this period e.g. a screenshot or screen recording, and to submit any regulatory reports due to the FIC as soon as possible once power is restored.”

 

 

 

 

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