Scope of powers.
- Clear limits. Prevent misunderstandings or misuse of powers.
- Protocols. Clear procedures to compel the production of records and have unrestricted and timely access to information.
- Transparency and consistency with the law.
- Capacitation. Institutions should understand their obligations and responsibilities.
Data and privacy protection.
- Data protection. Information collected is used only for the purpose of fulfilling their supervisory responsibilities.
- Confidentiality. Protect integrity and trust.
Provision of records.
- Notice. Time to gather and submit records and information.
- Clarity. Specify types of records and information.
- Clearance. Access to suspicious transaction reports is essential. Confidentiality requirements to access suspicious transaction reports, should not apply to supervisory authorities.
