Suspending Suspicious Transactions

According to World Bank and Egmont Group data, the financial intelligence units (FIUs) in at least 79 jurisdictions are authorized to postpone suspicious transactions related to money laundering, associated predicate offenses, terrorist financing, and or other criminal offenses. This report presents the results of a study, which shows the existence of a wide range of practices and arrangements, and some gaps or omissions, in respect of a number of important aspects of the FIU power to postpone suspicious transactions. It presents a number of recommendations to help FIU practitioners and policy makers establish or strengthen effective legal and operational mechanisms for the postponement of suspicious transactions, while taking into account the international FIU standards, and the rule of law, in order to ensure that the fundamental rights of all those concerned are effectively protected.