Tasks, Supervision and Cooperation

(1) The Financial Intelligence Unit has the task of collecting and analysing information connected with money laundering or terrorist financing, and of passing that information to the competent domestic public bodies for the purpose of investigating, preventing or prosecuting such acts. In performing its tasks the Financial Intelligence Unit follows a risk-based approach. In that connection it is responsible for: 1. receiving and collecting reports under this Act, 2. carrying out operational analyses, including the assessment of reports and other information, 3. exchanging information and coordinating with domestic supervisory authorities, 4. cooperating and exchanging information with financial intelligence units of other states, 5. prohibiting transactions and ordering other immediate measures, 6. transmitting to the competent domestic public bodies the results, concerning them, of the operational analysis under no. 2 and additional relevant information, 7. providing feedback to the obliged entity that has filed a report under section 43(1), 8. carrying out strategic analyses and preparing reports on the basis of those analyses, 9. exchanging views with obliged entities and with the domestic supervisory authorities and domestic public bodies competent for the investigation, prevention or prosecution of money laundering and terrorist financing, in particular on relevant typologies and methods, 10. compiling statistics on the figures and particulars referred to in Article 44(2) of Directive (EU) 2015/849 and publishing consolidated statistics on an annual basis in an annual report, 11. publishing an annual report on the operational analyses carried out, 12. participating in meetings of national and international working groups, and 13. performing the tasks otherwise assigned to it under other provisions.
(1a) In performing the task assigned to it under subsection (1), first sentence, the Financial Intelligence Unit also participates in identifying the funds and economic resources of particular persons or partnerships that are subject to a restriction on disposal on the basis of a directly applicable legal act of the European Communities or of the European Union, published in the Official Journal of the European Communities or of the European Union, that serves to implement an economic sanctions measure decided by the Council of the European Union in the field of the common foreign and security policy. Subsection (1), second sentence applies correspondingly.
(2) The Financial Intelligence Unit is subject to the supervision of the Federal Ministry of Finance. In exercising that supervision, the functional independence of the Financial Intelligence Unit under section 27(2) shall be taken into account. In the cases under subsection (1), third sentence, nos. 1, 2, 5 and 6, supervision is limited to legal supervision.
(3) The Financial Intelligence Unit, and the other domestic public bodies competent for the investigation, prevention and prosecution of money laundering, terrorist financing and other criminal offences and for averting danger, and the domestic supervisory authorities, shall cooperate with, and support, one another in implementing this Act.
(4) The Financial Intelligence Unit shall, insofar as necessary, inform the authorities responsible for taxation procedures or for the protection of the social security systems of matters that come to its attention in the performance of its tasks and that it has not transmitted to another competent public body.