Financial Services and Markets Act 2022 · s 28F

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—(1) Subject to this section, a prescribed financial institution (called in this section a lister) that —(a)has made a suspicious transaction report in respect of any property; and(b)has —(i)declined to establish a relationship, or decided to decline to establish a relationship, with a relevant party connected to the property; or(ii)terminated a relationship, or decided to terminate a relationship, with a relevant party connected to the property,may publish any risk information that the Authority may specify relating to the relevant party connected to the property to all prescribed financial institutions on the electronic information sharing system established under section 28N(1).(2) Before making a publication under subsection (1), the lister must be satisfied that the threshold criteria for publication applicable to the lister are satisfied. (3) Any prescribed financial institution may access the risk information published by the lister under subsection (1).(4) For the purposes of this section, a relevant party is connected to a property if —(a)the property is owned or controlled, directly or indirectly, by the relevant party; or(b)where the property is —(i)the subject of a transaction that is a wire transfer, the relevant party is the wire transfer originator or wire transfer beneficiary; and(ii)the subject of a transaction that is a value transfer, the relevant party is the value transfer originator or value transfer beneficiary.(5) In this section, “suspicious transaction report” means a disclosure under section 45(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992.
Subject to this section, a prescribed financial institution (called in this section a lister) that —(a)has made a suspicious transaction report in respect of any property; and(b)has —(i)declined to establish a relationship, or decided to decline to establish a relationship, with a relevant party connected to the property; or(ii)terminated a relationship, or decided to terminate a relationship, with a relevant party connected to the property,may publish any risk information that the Authority may specify relating to the relevant party connected to the property to all prescribed financial institutions on the electronic information sharing system established under section 28N(1).
Before making a publication under subsection (1), the lister must be satisfied that the threshold criteria for publication applicable to the lister are satisfied.
Any prescribed financial institution may access the risk information published by the lister under subsection (1).
For the purposes of this section, a relevant party is connected to a property if —(a)the property is owned or controlled, directly or indirectly, by the relevant party; or(b)where the property is —(i)the subject of a transaction that is a wire transfer, the relevant party is the wire transfer originator or wire transfer beneficiary; and(ii)the subject of a transaction that is a value transfer, the relevant party is the value transfer originator or value transfer beneficiary.
In this section, “suspicious transaction report” means a disclosure under section 45(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992.

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s 28FPublication on electronic information sharing system

(1)

Subject to this section, a prescribed financial institution (called in this section a lister) that —

(a)

has made a suspicious transaction report in respect of any property; and

(b)

has —

(i)

declined to establish a relationship, or decided to decline to establish a relationship, with a relevant party connected to the property; or

(ii)

terminated a relationship, or decided to terminate a relationship, with a relevant party connected to the property,may publish any risk information that the Authority may specify relating to the relevant party connected to the property to all prescribed financial institutions on the electronic information sharing system established under section 28N(1).

(2)

Before making a publication under subsection (1), the lister must be satisfied that the threshold criteria for publication applicable to the lister are satisfied.

(3)

Any prescribed financial institution may access the risk information published by the lister under subsection (1).

(4)

For the purposes of this section, a relevant party is connected to a property if —

(a)

the property is owned or controlled, directly or indirectly, by the relevant party; or

(b)

where the property is —

(i)

the subject of a transaction that is a wire transfer, the relevant party is the wire transfer originator or wire transfer beneficiary; and

(ii)

the subject of a transaction that is a value transfer, the relevant party is the value transfer originator or value transfer beneficiary.

(5)

In this section, “suspicious transaction report” means a disclosure under section 45(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992.