When a financial institution is requested to provide data and information to a law enforcement agency for matters related to financing of terrorism, assistance:

Question

Options

• Acan be refused on the grounds of tipping-off.
• Bcannot be refused on the grounds of bank secrecy.
• Ccannot be refused on the grounds of tipping-off.
• Dcan be refused on the grounds of bank secrecy.

• A
  3% (1)
• B
  9% (3)
• C
  72% (23)
• D
  16% (5)

Explanation

When a financial institution is requested to provide data and information to a law enforcement agency for matters related to the financing of terrorism, assistance cannot be refused on the grounds of tipping-off. Tipping-off refers to disclosing to a customer or any third party that a suspicious activity report (SAR) has been filed. However, in this specific context, the obligation to provide information to law enforcement takes precedence over any concerns related to tipping- off. Financial institutions must cooperate fully with law enforcement agencies in such cases to combat money laundering and terrorist financing.

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