MINISTRY OF ECONOMICS AND FINANCES
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International Treaties and Texts

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Form for Suspicious Activity

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Status Legal Proceedings

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Targets Financial Sanctions

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GENERAL PRESENTATION OF CENTIF
   CENTIF RULES AND REGULATIONS (Click here)
  • An administrative type financial intelligence unit .
  • Placed under the authority of the Ministry of Economy of Finances.
  • Endowed with decision-making and financial autonomy ( own budget)
  • Chaired by a top ranking-executive from a state-controlled financial authority, at least with the rank of Director's in central administrative service, appointed by decree at the cabinet meeting.
  • Composed of 6 members (appointed by decree), Analysts and Investigators
  • Possibility to use correspondents appointed by Ministerial order in institutional services
  • Members, correspondents and staff obliged to maintain professional confidentiality.

    1.    CREATION
      • Uniform law n° 2004-09 of February 6th, 2004 on the fight against money laundering,. as Senegal's response to international mobilization reaffirmed by the will displayed clearly at the regional level (WAEMU, ECOWAS) by the GIABA, to take action against the financial crime.
      • This law has three objectives :
        • To Prevent money laundering
        • To detect money laundering with the view to eradicating it,
        • To promote international cooperation on the fight against money laundering.
      • Decree n°2004-1150 of August 18th, 2004 insituting the creation, organisation and operation of a National Financial Intelligence Processing Unit

    2.    FUNCTIONS

      • Operational

      Collect, process and analyse financial intelligence in order to establish the origin of transactions, reported as suspicious by reporting entities.

      • Strategic

      Based on these analyses :

          • Give advice on the delivery of State policy in the fignt against money laundering..
          • Propose necessary reforms for reinforcing efficiency in the fight against money laundering.
    1.    ORGANIZATION CHART (click here)

    CENTIF INTERLOCUTORS (click here)

 

    CENTIF PREROGATIVES

    • A right to communicate widely.
    • Non-invocability of "professional secrecy (art 34, uniform law).
    • A right to freeze the execution of a suspicious transaction for a period of forty eight (48) hours..

    CENTIF OBLIGATIONS

    • To inform reporting entitites of the conclusions of its investigations(feedback).
    • Respect of professional secrecy.
    • Quarterly and annual reports to the Minister of finances and the Central Bank (BCEAO)

   OBLIGATIONS FOR REPORTING ENTITIES

  1.    CUSTOMERS IDENTIFICATIONS

    • Physical persons (identity and address),
    • Legal entitIies (original certified true copy of any documents attesting of their legal status, address and names of the persons doing business on their behalf

  2.    IDENTIFICATIONS OF OCCASIONAL CUSTOMERS

    • Any cash transaction equal to, or in excess of 5 000 000 FCFA,
    • Repetition of transaction each below 5 000 000 FCFA.

  3.    IDENTIFICATIONS OF ECONOMIC BENEFICIARIES(PRINCIPAL).


  4.    PARTICULAR SURPERVISION OF CERTAIN TRANSACTIONS.
    • Normal cash payment (or payment by deed to the bearer) of a sum of money express of or equal to 5 000 000F CFA
    • Any suspicious transaction in excess of or equal to 10 000 000F CFA.
    • Conservation of identification papers and documents by financial institutions for ten years from the date when the accounts were closed or the relations ended with usual or occasional customers.
    • Communication of documents uponrequest of control agencies or CENTIF.
    • Development of harmonised internal mechanismfor combatting money laundering and appointment of internal anti-money laundering compliances officers.

   PARTICULAR OPERATIONS (art. 14 and 15 of the uniform law)

  1.    REGISTERED CURRENCY EXCHANGE CORPORATIONS

    • Particular attention paid to transactions (with no statutory limit) for an amount of 5 000 000 FCFA.

  2.    CASINOS AND GAMBLING INSTITUTIONS

    • Justification of the licit origin of funds in case of an opening request,
    • Identification of gamblers for all transactions equal to, or in excess of 1 000 000 FCFA,
    • Preservation(Conservation) of documents (register of recording of the players) during 10 years after the last registered(recorded) operation,
    • Preservation(Conservation) during 10 years as from the last registered(recorded) operation, from the special register of recording of the transfers of collection(capital,fund) between casinos and establishments of games(sets)

   GUARANTEES OFFERED TO REPORTING ENTITIES

  1.    IMMUNITIES (art. 31 and 32 of uniform law)

    • The State takes responsibility for all damages caused to persons by reports of suspicious transactions from reporting entities, if such reports are filed in compliance with the law.
    • The reporting in good faith of a suspicious operations does not make the reporting entities liable if the suspicious report was done in compliance with the law.

  2.    CONFIDENTIALITIES OF THE INFORMATION GATHERED BY CENTIF
    • Used only for the purpose specified by the law. (art. 25)
    • Communicated only to persons authorized by the law (Prosecutor, CENTIF of WAEMU member state AND others FIU on condition of reciprocity etc....)
    • Report of suspicious transaction themselves are never submitted .


 
 
Document sans titre Scat Urbam Lot E 82 BP : 25554 Dakar Fann - Tel : +221 33 859 4382 - Fax: +221 33 867 0362 - Email: contact@centif.sn