Report to FIU

Report to FIU

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Suspicious Transactions Report (STR)

Under the provisions of article 23 of the Law no. 17/2011 of 28 December on the Legal Regime of the Prevention and Combating Money Laundering and Terrorist Financing, the financial and non-financial institutions as defined in the article 3 of the same Law shall immediately report suspicious transaction to UIF, when having ground of suspicion that certain transactions are result from criminal activity, or, if there is knowledge of a fact that may be indicative of a money laundering criminal act or terrorist financing.
 
Dealers in precious stones and metals have similar obligation of reporting to UIF of any suspicious transactions amounting US$10,000.00 or more.
The non-compliance with obligation to report a suspicious transaction reporting entities is subject to administrative sanctions as provided in the articles 31 and 32 of the Law no. 17/2011.
 
For the purpose of reporting suspicious transaction, banking institutions are required to observe article 19 of the BCTL Instruction no. 05/2017 of 25 August by completing the reporting form available.


Cash Transactions Report (CTR)

The reporting of cash transactions of US$10,000 or more to UIF is required under article 20 of BCTL Instruction n.º 05/2017 applies to banking institutions and which was brought into force on 25 August 2017. Certain classes of transactions on behalf of banks and with BCTL are excluded from the application of this provision.

The BCTL Instruction no. 01/2013 of 27 September, article 13 requires MTOs to report to UIF all cash transactions equal to US$2,500.00.

For the reporting of cash transactions to UIF the reporting entities are required to complete the form available.


Declaration of Cash Transportation or BNI
Under the provisions of article 7(1) of the Law no. 17/2011 of 28 December on the Legal Regime of the Prevention and Combating Money Laundering and Terrorist Financing, persons traveling into or out of Timor-Leste territory are required to declare to the Custom Authorities at the borders if they are carrying on themselves or in their possessions, any currency or Bearer Negotiable Instruments of US$10,000.00 or more, or equivalent amounts in foreign currency.

The Customs Authorities has obligation under 7(2) of the same Law to immediately transmit to UIF copies of such declaration either for non-declared amount/BNI or false declaration.