The Financial Intelligence Unit collects and investigates reports of suspicious financial transactions. The English name of the central office and the corresponding abbreviation are often used: Financial Intelligence Unit (FIU). The aim of the FIU is to prevent, detect and support the fight against money laundering and terrorist financing.

For this purpose, the FIU may request information from you if you are an obliged entity or an obliged person, regardless of whether you have submitted a report. You are considered an obliged entity if you are active as an economic operator in Germany.

As a rule, you must provide the FIU with the requested information. The information includes all information that is required to fulfill the task, which means that the information may concern you or third parties, for example your customers or other business contacts.

In certain cases, you as the obligated party can refuse to provide information. This is the case, for example, if you are a

• lawyer, legal adviser, patent attorney or notary public, you are involved in the planning or execution of certain transactions for a client or provide advice or other services in certain areas of activity, or
• are certified public accountants, chartered accountants, tax consultants or tax agents and
• the request for information relates to information that you have received during the legal advice or legal representation of your contractual partner.

However, the duty to provide information remains in force if you know that your contractual partner is using the legal advice for the purpose of money laundering or terrorist financing.

If you are required to provide information about persons or other third parties, you may not inform these parties.