Every banking company, financial institution and intermediary shall furnish to FIU-IND information of all suspicious transactions whether or not made in cash.
The Prevention of Money-laundering Act, 2002, and rule thereunder require every banking company, financial institution and intermediary, to furnish to FIU-IND information relating to - All cash transactions of the value of more than rupees ten lakhs or its equivalent in foreign currency; All series of cash transactions integrally connected to each other which have been valued below rupees ten lakhs or its equivalent in foreign currency where such series of transactions have taken place within a month.
The Prevention of Money-laundering Act, 2002, and rule thereunder require every banking company, financial institution and intermediary, to furnish to Financial Intelligence Unit India information relating to all cash transactions where forged or counterfeit currency notes or bank notes have been used as genuine or where any forgery of a valuable security or a document has taken place facilitating the transactions.
As a part of Global Anti Money Laundering and Combating of Financial Terrorism efforts, Timely dissemination of Intelligence is an essential activity of FIU and FIU receives /sends request on Money Laundering, Terrorist Financing, Corporate frauds, Organised crimes, Fake currency & Tax evasion.
Over 17000 Suspicious Transaction Reports were received by FIU-IND during the first four Financial years of its operation. An analysis of these reports were made to decipher Trends in distribution over Sectors, Geographies & Type of Suspicion.