Unusual transaction definition
Unusual transaction means a legal act or any act, which indicates that its execution may enable legalization or terrorist financing.
Unusual transaction means a transaction effected by a natural or legal person which, in the institution’s view and pursuant to these General Regulations, may fall within the scope of the transactions or operations referred to in the fourth and fifth paragraphs of article 140 of the General Law on Insurance Institutions and Mutual Insurance Companies on account of any one of the following characteristics: the amount of the premium, quota share or contribution, the frequency and form of payment; the place, region or area in which it is effected; the natural or legal person’s background and activity; and the criteria laid down in the instruction manuals that insurance institutions and mutual insurance companies are required to compile and register with the Ministry of Finance and Public Credit, in accordance with the provisions of the fourth of these Regulations;
Unusual transaction means an operation the quantity, frequency, amount or characteristics of which are not in keeping with the profile of the customer.
Examples of Unusual transaction in a sentence
Unusual transaction patterns based upon Account and deposit history.
Unusual transaction patterns based upon account and deposit history.
More Definitions of Unusual transaction
Unusual transaction means a legal act or another act rising a suspicion that carrying out that act