India’s financial intelligence unit (FIU) has issued a fresh set of ‘alert indicators’ for capital markets, insurance companies, online payment gateway intermediaries, and cryptocurrency service providers to enhance the detection of suspicious transactions. These guidelines, issued under the provisions of the Prevention of Money Laundering Act (PMLA) during the 2022-23 financial year, aim to strengthen the anti-money laundering (AML) and counter-terrorism financing (CFT) regime. As part of this regime, financial institutions and intermediaries are required to report suspicious transaction reports (STRs) to the FIU, which analyzes and disseminates them for further investigation by various enforcement agencies.
FIU Releases New Terror Financing Reporting Alerts for Capital Markets
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