Examples of Financial Intelligence Unit in a sentence
During the F.Y. 2015-16, Financial Intelligence Unit – India, New Delhi served the Order dated 27-10-2015 imposing a fine of Rs. 5.00 lacs for failure of State Bank of India’s (5 branches of SBI figured in Cobrapost sting operations) internal mechanism for detecting and reporting attempted suspicious transactions in terms of Section 12 of the PMLA Act.
The UAE Central Bank’s Financial Intelligence Unit is credited in State Department terrorism reports with providing training programs to UAE financial institutions on money laundering and terrorism financing, and making mandatory the registration of informal financial transmittal networks (hawalas).
In case of doubt, the AD Category – I bank may consider filing Suspicious Transaction Report (STR) with FIU_IND (Financial Intelligence Unit in India).
It is also important that there is extrinsic evidence in the form of written correspondence to support any conclusions made.The Time and Expense Involved [39] Clearly, when a summary trial is going to involve extensive affidavits, numerous witnesses and voluminous documents, consideration must be given to whether it will be efficacious.
A report may be forwarded to the Financial Intelligence Unit by way of facsimile transmission, or by other means (including without limitation, electronic mail or other similar means of communication) as may be agreed from time to time between the Financial Intelligence Unit and the financial institution concerned.