Upgrading of the Suspicious Reporting System (goAML)

At the end of December 2024, the Financial Intelligence Analysis Unit (FIAU) will be upgrading its suspicious reporting system, goAML, to a newer version. The upgrade will introduce several enhancements, including an improved web portal user interface, a new XML schema, and additional web portal functionalities.

Alongside these upgrades, an updated list of reporting indicators will be provided. For entities submitting reports in XML format, the existing XML schema will still be accepted. However, it has been made clear that it is crucial to map the correct reporting indicators accurately. The FIAU has also informed all involved entities that the new XML elements will be introduced to support future data collection requirements, with more details to be communicated in the coming weeks.

Revised Reporting Indicators

Reporting indicators will also be updated, requiring entities submitting in XML format to use the new indicators. For those submitting via the web portal, both new and changed indicators will be visible, and the correct indicators must be chosen. A guidance document will be issued in the coming weeks to assist with this transition.

Updated Technical Package

The FIAU has also communicated that it is working on updating its technical package, which will include the updated XML schema, technical documentation, and examples of Suspicious Transaction Reports (STR) and Suspicious Activity Reports (SAR). More specific information on the affected indicators will be published soon.

Upgraded Test Environment

To facilitate the transition, the FIAU will provide an updated test environment with the new version. This will allow entities to test the new web portal interface and XML submissions. Access to the portal will remain the same as the existing test portal.

Entities submitting in XML format are urged to forward this information to their technical teams and plan the necessary changes before the deadline.

At ARQ Group, our AML Tech Expert Billy Smith has a wealth of experience in enabling XML reporting across multiple licensed jurisdictions. Whether you already have a system in place which needs to be updated according to the new schema, or would like to transition from manual STR reporting and leverage the power of automation in your journey to regulatory compliance, we can help.

For any further information or assistance on AML risk related matters, please do not hesitate to contact us on [email protected].