Here is the article in markdown format:

Professions Subject to Money Laundering/Terrorist Financing Act Enjoy Protections and Immunity

In a bid to combat money laundering and terrorist financing, the Belgian government has implemented measures to protect professionals who report suspicions of such activities. The Money Laundering/Terrorist Financing (ML/TF) Act provides a range of benefits for individuals and organizations that comply with its provisions.

Protection against Threats and Acts of Aggression

Under the ML/TF Act, persons who report suspicions of money laundering or terrorist financing to the Financial Intelligence Processing Unit (CTIF-CFI) are protected from threats and acts of aggression. This protection is enshrined in Article 59 of the Act.

Judicial Immunity and Disciplinary Immunity

Individuals and organizations that report suspicions in good faith also enjoy judicial immunity, both criminal and civil, as well as disciplinary immunity. This means that they cannot be held liable for any actions taken in accordance with the ML/TF Act (Article 57).

Anonymity

The identity of individuals who provide information to CTIF-CFI is not disclosed when it informs the Public Prosecutor, Federal Public Prosecutor’s Office, or a foreign authority responsible for combating money laundering and terrorist financing (Article 83, §2). Similarly, members of CTIF-CFI are granted anonymity in court testimony (Article 58).

Secrecy Obligations

Members of CTIF-CFI, police officers, and external experts are bound by professional secrecy. They may not disclose information received while performing their duties, except in specific circumstances (Article 83).

Role of the Financial Intelligence Processing Unit (CTIF-CFI)

CTIF-CFI plays a crucial role in analyzing information it receives and forwarding it to the Public Prosecutor or Federal Public Prosecutor if there are serious indications of money laundering or terrorist financing. The unit may also oppose transactions suspected of being linked to such activities for a period of five days and request an extension from the Public Prosecutor or Federal Prosecutor (Articles 76, §3, and 79).

Sanctions for Non-Compliance

The ML/TF Act provides sanctions for non-compliance with its provisions. These range from administrative fines of €250 to €1,250,000 for non-financial professions and €5,000 to 10% of annual net turnover for financial professions (Article 132).

Restrictions on Cash Payments and Donations

The ML/TF Act imposes restrictions on cash payments and donations. For example, payment for property sales must be made by bank transfer or cheque, except in specific circumstances. Sanctions for non-compliance with these restrictions include criminal fines ranging from €2,000 to €1,800,000 (Article 137).

Monitoring Compliance

Compliance with the ML/TF Act is monitored by various authorities, including the FPS Economy, which oversees compliance with cash payment and donation restrictions (Article 85, §3). These authorities may request information and conduct on-site inspections as needed.

FPS Economy Role

The FPS Economy plays a key role in monitoring compliance with the ML/TF Act for sectors falling under its competence. Its main tasks include drawing up regulatory standards and checking whether individuals comply with their legal obligations (Articles 86 and 85, §1).

With these measures in place, professionals subject to the ML/TF Act can report suspicious activities with confidence, knowing they are protected from threats and acts of aggression, enjoy judicial immunity and disciplinary immunity, and benefit from anonymity.