Financial transactions

Establishment of a financial investigation unit to monitor illicit financial transactions.

Issuing decrees on the suspension of financial transactions

Question on the requirement to report suspicious transactions by all financial institutions, as well as by insurance companies and other such intermediaries engaged in financial transactions.

Australia's financial intelligence unit, AUSTRAC, also monitors the financial transactions of NPOs in the same way that it monitors other organizations, by scrutinizing their international funds transfer instructions, significant cash transactions, suspect transactions and international currency transfers.

One proposal calls for taxing national and international financial transactions.

The emotional appeal of a tax on all financial transactions is undeniable.

1.5 Paragraph 1 of the resolution requires that the legal obligation to report suspicious transactions should extend to all professions engaged in financial transactions.

The huge losses on derivate transactions were generated by AIG s financial products unit.

Consider, for example, a tax of 0.25 applied to all cross border financial transactions.

Sound transactions would be taxed along with destabilizing, overnight financing of fragile financial institutions.

4.5 Exchange of information regarding suspicious financial transactions, illegal financial operations and assistance in establishing and strengthening contacts between appropriate authorities.

Belarus has an effective mechanism for detecting illegal financial activity by non profit organizations, all of whose financial transactions are checked for taxation purposes.

The draft law will strengthen the requirement to declare large financial transactions which exceed a certain amount.

Could Thailand please confirm whether such professionals do report suspicious transactions to the Thai Financial Intelligence Unit?

(b) Financial contracts governed by netting agreements, except a receivable owed on the termination of all outstanding transactions

The world financial transactions have jumped from quadrillion US dollars in 2002 to quadrillion US dollars in 2008.

We are also determined to pursue the study of nationally applied and internationally coordinated taxes on financial transactions.

V. FINANCIAL ADMINISTRATION From the inception of the Force, the Secretary General established an account outside the regular budget, covering all financial transactions pertaining to UNFICYP.

The Financial Accounting System of the Office for the Coordination of Humanitarian Affairs is not meant to process transactions, but to report on transactions that have been processed in the IMIS accounting system.

Some speakers stressed the critical role played by financial intelligence units in the analysis of suspicious financial transactions and reported on the establishment or functioning of financial intelligence units in their countries.

Instead, once financial transactions begin to concentrate in a place, it becomes hard to move them to other places.

New professions that were obliged to report suspicious financial transactions were accountants, lawyers and dealers in high value goods.

The National Bank defines the permitted combination of banking transactions which non bank credit and financial institutions may perform.

A Bill to amend the Financial Transactions Reporting Act to include the FATF Revised Forty Recommendations is before Parliament.

(b) That the financial transactions reflected in the statements have been in accordance with these Regulations and the Financial Rules, the budgetary provisions and other applicable directives

AMLO also circulated a letter to all financial institutions in August 2003, reminding them of their legal obligations regarding the reporting of financial transactions related to terrorist activities.

The report maintains that these funds are often used to participate in illegal financial transactions, arms dealing, and money laundering.

Third, transactions in the name of deceased persons may flow through financial systems months or even years after their death.

We need to carry out a structural re engineering of cooperation and reduce costs of transactions, brokering and financial restrictions.

The receipts would be even greater if the base is extended, as was implied by Turner, to all global financial transactions.

CAMBRIDGE European leaders are seriously considering a Tobin tax, which would put a small levy on financial transactions, thereby dampening trading.

Furthermore, strong international financial partners are indispensable to multinational corporations, which often need global cash management or support for large scale transactions.

Financial institutions are required to report transactions if the transaction involves more than US 10,000 and appears to have an unlawful purpose.

Financial institutions have at their disposal a wealth of useful information emanating from regular business transactions being conducted at any given moment.

The relevant national authorities are expected to provide practical guidance as to what constitutes suspicious transactions for the use of financial institutions.

In addition, regulation was made difficult by weak international legal frameworks, poor government capacities and the increasing volume of global financial transactions.

At the same time, it had established the Commission for Financial Analysis, which monitored transactions having a suspected link with money laundering.

Turner, voicing his concerns about the size of the financial sector and its frequently obscene levels of compensation, said he thought a global tax on financial transactions might help curb both.

Commercial transactions

A State Decree was implemented in 2003 requiring the designated financial service providers (including banks) to report all transactions possibly related to the financing of terrorism to the Aruban Financial Intelligence Unit.

Prevention should include promoting the use of the formal financial sector while, at the same time, ensuring control of informal transfer systems, registering financial dealers and requiring the reporting of suspicious transactions.

To be effective, any tax on financial transactions would have to be implemented on a global scale, which currently does not seem realistic.

To prevent such regulatory arbitrage, domestic regulators may be forced to take measures against financial transactions originating from jurisdictions with more lax regulations.

One major reaction to this development is that many of the services involve financial transactions, which is virtually an impossibility for Iranian residents.