Section 38 of the FIC Act provides for a broad range of measures to protect persons who participate in submitting reports to the FIC. It guarantees that “no action, whether criminal or civil, can be instituted against any natural or legal person who complies in good faith with the reporting obligations of the FIC Act”. Consequently, they cannot be forced to give evidence concerning such a report in criminal proceedings arising from the report. However, such a person may choose to do so voluntarily. If a person who participated in submitting a report to the FIC elects not to testify, no evidence regarding that person’s identity is admissible as evidence in criminal proceedings.

Category: Compliance and supervision / Suspicious and unusual transaction reporting