Anti-Money Laundering Regulation
Navigation log
Table of Contents
Chapter I – General provisions
Chapter II – Internal policies, procedures and controls of obliged entities
Chapter III – Customer due diligence
Chapter IV – Beneficial ownership transparency
Chapter V – Reporting obligations
Chapter VI – Information sharing
Chapter VII – Data protection and record retention
Chapter VIII – Measures to mitigate risks deriving from anonymous instruments
Chapter IX – Final provisions
Recitals (175)
Annexes
Chapter V – Reporting obligations
Article 71
Refraining from carrying out transactions
1. Obliged entities shall refrain from carrying out transactions which they know or suspect to be related to proceeds of criminal activity or to terrorist financing until they have submitted a report in accordance with Article 69(1), first subparagraph, point (a), and have complied with any further specific instructions from the FIU or other competent authority in accordance with the applicable law. Obliged entities may carry out the transaction concerned after having assessed the risks of proceeding with the transaction if they have not received instructions to the contrary from the FIU within 3 working days of submitting the report.
2. Where it is not possible for an obliged entity to refrain from carrying out a transaction as referred to in paragraph 1or where refraining would be likely to frustrate efforts to pursue the beneficiaries of a suspected transaction, the obliged entity shall inform the FIU immediately after carrying out the transaction.
Related Recitals