A suspicious activity report to MROS does not automatically freeze an account. Since the 2023 revision of the Anti-Money Laundering Act, the freeze is tied to a later moment: MROS’s notice that it is forwarding the report to a prosecution authority.
Sequence
After the report MROS analyses the case. If it forwards it to a public prosecutor, it informs the financial intermediary, which then freezes the assets concerned. The freeze is time-limited; within that period the prosecution authority decides whether to seize the assets by its own order. If it does not, the freeze ends.
Prohibition of information
During the freeze and the analysis, the financial intermediary may inform neither the persons concerned nor third parties about the report. Exceptions exist, for example for communication within a financial group or with other financial intermediaries involved in the same relationship. For relationship managers this is the most delicate phase: they must answer questions without giving the reason.
Distinction from sanctions freezes
Freezes based on sanctions and embargoes do not rest on the AMLA but on ordinances under the Embargo Act. They apply as soon as a person or entity is listed, regardless of any report, and must be notified to SECO. Both can coincide but follow their own rules.
Preparation
Anyone managing assets should decide in advance who implements a freeze technically, who handles client communication and how deadlines are monitored. This belongs in the internal directives of the AML unit.