AML/CFTR 3.3.10 Wire transfers

(1) This rule applies to a transaction conducted by a financial institution (the ordering financial institution) by electronic means on behalf of a person (the originator) with a view to making an amount of money available to a person (the recipient) at another financial institution (the beneficiary financial institution).
(2) This rule applies to the transaction whether or not:
(a) the originator and recipient are the same person;
(b) the transaction is conducted through intermediary financial institutions; or
(c) the ordering financial institution, the beneficiary financial institution or any intermediary financial institution is outside Qatar.
(3) However, this rule does not apply to a transaction conducted using a credit or debit card if:
(a) the card number accompanies all transfers flowing from the transaction; and

Examples of transfers that may flow from the transaction
1 withdrawals from a bank account through an ATM
2 cash advances from a credit card
3 payments for goods and services
(b) the card is not used as a payment system to effect a money transfer.
(4) Also, this rule does not apply:
(a) to transfers from 1 financial institution to another; or
(b) if the originator and recipient are both financial institutions acting on their own behalf.
(5) If the ordering financial institution is in Qatar, it:
(a) must obtain and keep full originator information; and
(b) must conduct CDD for the originator;
unless the beneficiary financial institution and all intermediary financial institutions (if any) are in Qatar and the transaction involves the transfer of less than QR 3,500.

Note Full originator information is defined in the Glossary.
(6) To remove any doubt, the ordering financial institution needs only to comply with subrule (5) once for the originator.
(7) If the ordering financial institution is in Qatar and the beneficiary financial institution or any intermediary financial institution is outside Qatar, the ordering financial institution must include full originator information and full recipient information in a message or payment form accompanying the transfer.

Note Full recipient information is defined in the Glossary.
(8) However, if several separate transfers from the same originator are bundled in a batch file for transmission to several recipients in a foreign jurisdiction, the ordering financial institution needs only to include the originator's account number or unique reference number in relation to each individual transfer if the batch file (in which the individual transfers are batched) contains full originator information, and full recipient information for each recipient, that is fully traceable in the foreign jurisdiction.
(9) If the ordering financial institution, the beneficiary financial institution and all intermediary financial institutions (if any) are in Qatar, the ordering financial institution must include full originator information and full recipient information in a message or payment form accompanying the transfer unless:
(a) the transaction involves the transfer of less than QR 3,500; or
(b) both of the following conditions are satisfied:
(i) full originator information and full recipient information can be made available to the beneficiary financial institution, the Regulator, the FIU and law enforcement authorities within 3 business days after the day the information is requested;
(ii) law enforcement authorities can compel immediate production of the information.
(10) Each intermediary financial institution (if any) must ensure that all information relating to the originator and recipient that the financial institution receives in a message or payment form accompanying the transfer is transmitted to the next financial institution.
(11) If the beneficiary financial institution is in Qatar and is aware that full originator information or full recipient information has not been provided in a message or payment form accompanying the transfer (and is not fully traceable using a batch file as mentioned in subrule (8)), it must:
(a) either:
(i) reject the transfer; or
(ii) obtain the missing or incomplete information from the ordering financial institution; and
(b) using a risk-sensitive approach, decide whether a suspicious transaction report should be made to the FIU.
(12) If the ordering financial institution has regularly failed to provide the required information about the originators or recipients of transactions and the beneficiary financial institution is in Qatar, the beneficiary financial institution:
(a) must take appropriate steps to ensure that the ordering financial institution does not contravene this rule; and
(b) must report the matter to the FIU.
Examples of steps
1 issuing warnings and setting deadlines for the provision of information
2 rejecting future transfers from the ordering financial institution
3 restricting or terminating any business relationship with the ordering financial institution
(13) Despite anything in these rules, no money or value may be transferred by electronic means to a person listed:
(a) under a relevant resolution of the UN Security Council; or
(b) in a Terrorist Designation Order published by the National Counter Terrorism Committee of the State.
Derived by QFCRA RM/2019-8 (as from 1st February 2020)