AMLG 5.2.1 What is tipping-off?
Tipping-off, in relation to an applicant for business or a customer of a firm, is the unauthorised act of disclosing information that:
(a) may result in the applicant or customer, or a third party (other than the FIU or the Regulator), knowing or suspecting that the applicant or customer is or may be the subject of:
(i) a suspicious transaction report; or
(ii) an investigation relating to money laundering or terrorism financing; and
(b) may prejudice the prevention or detection of offences, the apprehension or prosecution of offenders, the recovery of proceeds of crime, or the identification and prevention of money laundering or terrorism financing.
|Derived by QFCRA RM/2019-9 (as from 1st February 2020)|