A gazdaság védelmében, mindannyiunk érdekében.
4. Supervisory functions - Information on measures and onsite inspection


In the case of any infringement of the provisions of the AML/CFT Act or non-compliance with the obligations set out in the Act, the HFIU can take the following measures (1) it may call upon the service provider to take the measures necessary for compliance with the provisions of the AML/CFT Act, and to eliminate the deficiencies; (2) it may advise the service provider to participate in special training programs, or to hire employees (executive officers) with the appropriate professional skills required for those activities; or redraft the internal rules according to specific criteria within a prescribed deadline; (3) it may issue a warning to the service provider, (4) it may order the service provider to stop the unlawful activity. The HFIU may impose (5) fine together with or independently from the measures listed above. The amount of fine in the case of service providers subject to the HFIU's supervision is minimum 100.000 HUF and maximum 1.000.000 HUF. The proceeds from fines must be used exclusively for reinforcing the system against money laundering and terrorist financing As it is determined by the AML/CFT Act.
The HFIU carries out authority inspections within its supervisory competence on the basis of the AML/CFT Act and the APS Act. If the preliminary information does not jeopardize the effectiveness of the supervision a notice letter is sent to the service provider about the time and the location of the onsite inspection. Thus the service provider could be prepared for the supervision.

The following issues are involved into the inspection by all means:
  • supervision of service provider's data and activity
  • internal rules (existence, content, effectiveness)
  • notification of designated person
  • measures on customer due-diligence
  • analysis of suspicious transaction reports /prohibition of disclosure/
  • supervision of record keeping, statistics and register
  • internal control and information system, education, training
  • the cooperation of the service provider during the inspection.
It has to be noted that fine can be imposed in the case of impeding the inspection [Section 88 Subsection (4) of the APS Act]. The amount of fine is minimum 5000 HUF and maximum 500.000 HUF in case of a natural person and 1.000.000 HUF in case of a legal enities.