Money Laundering and Proceeds of Crime Act Act No. 4/2013 (b) closely examining the transactions carried out in order to ensure that such transactions are consistent with their knowledge of their customer, and the customer’s commercial or personal activities and risk profile; and (c) ensuring the obligations pursuant to sections 19, 20 and 21 relating to high risk customers, politically-exposed persons, and correspondent banking relationships are fulfilled. (2) Financial institutions and designated non-financial business and professions shall— (a) pay special attention to all complex, unusual large transactions and all unusual patterns of transactions which have no apparent economic or visible lawful purpose; and (b) pay special attention to business relations and transactions with persons, including legal persons and arrangements, from or in incompliant or insufficiently compliant jurisdictions; and (c) examine as far as possible the background and purpose of transactions under paragraphs (a) and (b) and set forth in writing their findings; and (d) take such specific measures as may be prescribed by directive from time to time to counter the risks with respect to business relations and transactions specified under paragraph (b). (3) The findings referenced in subsection (2)(c) shall be maintained as specified in section 24, and be made available promptly if requested by the Unit or by a foreign counterpart agency, a competent supervisory authority or other authority prescribed by the Minister. 27 Obligations regarding wire transfers (1) When undertaking wire transfers equal to or exceeding one thousand United States dollars financial institutions (or such lesser or greater amount as may be prescribed), shall— (a) identify and verify the identity of the originator; (b) obtain and maintain the account number of the originator or, in the absence of an account number, a unique reference number; (c) obtain and maintain the originator’s address or, in the absence of address, the originator’s national identity number or date and place of birth; and (d) include information referred to in paragraphs (a), (b) and (c) in the message or payment form accompanying the transfer. (2) Despite the foregoing requirements, a financial institution is not required to verify the identity of a customer with which it has an existing business relationship, provided that it is satisfied that it already knows and has verified the true identity of the customer. (3) When a financial institution acts as an intermediary in a chain of payments, it shall retransmit all of the information it received with the wire transfer. (4) A directive modify the requirements set forth in subsection (1)— (a) with respect to domestic wire transfers, as long as the directive provides for full originator information to be made available to the beneficiary financial institution and appropriate authorities by other means; and (b) with respect to cross-border transfers where individual transfers from a single originator are bundled in a batch file, as long as the directive provides for the originator’s account number or unique reference number to be included, and that the batch file contains full originator information that is fully traceable in the recipient country. (5) Subsections (1) and (2) do not apply to transfers— (a) executed as a result of credit card or debit card transactions, provided that the credit card or debit card number accompanies the transfer resulting from the transaction; (b) between financial institutions acting for their own account. - 29 -