Safe and Reliable

Anti-Money Laundering (AML) is introduced under Prevention of Money Laundering Act 2002 so that any income coming from unauthorized or illegal source can be traced.

Under AML, reports such as Cash Transaction Report (CTR), Suspicious Transaction Report (STR), Counterfeit Currency Report (CCR), Cross Border Wire Transfer Report (CBWTR) is required to be filed as applicable.

Following information is required to be reported under AML to Foreign Intelligence Unit (FIU) –

• All cash transactions of the value more than Rs.Ten Lakhs or its equivalent in foreign currency.
• All series of cash transactions integrally connected to each other which have been valued below Rs.Ten Lakhs or its equivalent in foreign currency where such series of transactions have taken place within a month.
• All cash transactions were 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.
• All suspicious transactions whether or not made in cash.
• All cross border wire transfers of the value exceeding Rs.Five lakhs or its equivalent in foreign currency where either the origin or destination of fund is in India.
• All purchase and sale of immovable property valued at Rs.Fifty lakhs or more that is registered by the reporting entity.