NEW DELHI: A fresh set of ‘alert indicators’ have been issued by India’s financial intelligence unit (FIU) for capital markets, insurance companies, online payment gateway intermediaries and crypto currency service providers for effective checking of suspicious transactions in their channels. The move comes as part of the anti-money laundering and counter-terrorism financing regime.
These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act during FY23 and published in a recently released report. This is part of the anti-money laundering and combating the financing of terrorism regime followed by the country. As a part of it, financial institutions and intermediaries are mandated to share suspicious transaction reports with the FIU which analyses them and shares them for action with various investigative and intelligence agencies.FIU proactively engages with the financial sector regulators and reporting entities to understand emerging risks.
These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act during FY23 and published in a recently released report. This is part of the anti-money laundering and combating the financing of terrorism regime followed by the country. As a part of it, financial institutions and intermediaries are mandated to share suspicious transaction reports with the FIU which analyses them and shares them for action with various investigative and intelligence agencies.FIU proactively engages with the financial sector regulators and reporting entities to understand emerging risks.
