Common use of Suspicious Transactions Clause in Contracts

Suspicious Transactions. The Bank is required, under penalty of disciplinary or criminal sanctions, to have due diligence on FX Transactions carried out by the Client. In accordance with the laws and regulations to which the Bank is subject, especially in the prevention of market abuse, money laundering and terrorism financing, the Client is informed that the Bank may be required to declare certain Transactions of the Client to different authorities. The Bank may be prohibited from disclosing to the Client that it is carrying out an analysis in relation to an FX Transaction or that it has provided a report in relation to an FX Transaction to the competent authorities.