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Text of the Recommendation and Interpretative Note
See also: The full text of the 40 Recommendations, glossary and interpretative notes 
 Return to the FATF 40 Recommendations page.
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Recommendation 13
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B. MEASURES TO BE TAKEN BY FINANCIAL INSTITUTIONS AND NONFINANCIAL BUSINESSES AND PROFESSIONS TO PREVENT MONEY LAUNDERING AND TERRORIST FINANCING
Reporting of suspicious transactions and compliance
If a financial institution suspects or has reasonable grounds to suspect that funds are the proceeds of a criminal activity, or are related to terrorist financing, it should be required, directly by law or regulation, to report promptly its suspicions to the financial intelligence unit (FIU).
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General
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1.
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Reference in this document to “countries” should be taken to apply equally to “territories” or “jurisdictions”.
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2.
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Recommendations 5-16 and 21-22 state that financial institutions or designated non-financial businesses and professions should take certain actions. These references require countries to take measures that will oblige financial institutions or designated non-financial businesses and professions to comply with each Recommendation. The basic obligations under Recommendations 5, 10 and 13 should be set out in law or regulation, while more detailed elements in those Recommendations, as well as obligations under other Recommendations, could be required either by law or regulation or by other enforceable means issued by a competent authority.
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3.
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Where reference is made to a financial institution being satisfied as to a matter, that institution must be able to justify its assessment to competent authorities.
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4.
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To comply with Recommendations 12 and 16, countries do not need to issue laws or regulations that relate exclusively to lawyers, notaries, accountants and the other designated non-financial businesses and professions so long as these businesses or professions are included in laws or regulations covering the underlying activities.
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5.
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The Interpretative Notes that apply to financial institutions are also relevant to designated non-financial businesses and professions, where applicable.
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Recommendation 13
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The reference to criminal activity in Recommendation 13 refers to: |
| a) |
all criminal acts that would constitute a predicate offence for money laundering in the jurisdiction; or |
| b) |
at a minimum to those offences that would constitute a predicate offence as required by Recommendation 1. |
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Countries are strongly encouraged to adopt alternative (a). All suspicious transactions, including attempted transactions, should be reported regardless of the amount of the transaction. |
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In implementing Recommendation 13, suspicious transactions should be reported by financial institutions regardless of whether they are also thought to involve tax matters. Countries should take into account that, in order to deter financial institutions from reporting a suspicious transaction |
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