Suspicious transaction reports received by the Central Bank's unit on money laundering and suspicious cases up to 31 March 2005

(iii) Reporting of suspicious transactions?

(o) Suspicious transaction reporting

AMLO has received some suspicious transaction reports from financial institutions.

Up to now, AMLO has received, on average, 2,600 suspicious transaction reports a month.

All the STR cases forwarded to the Police are still under investigation by them.

Article 30 Reporting suspicious transactions

The CTC would therefore appreciate receiving the number of suspicious reports (STRs) already received by the Banking Supervisions Department.

In addition, the unit on money laundering and suspicious cases must be notified of suspicious transactions.

Forms for reporting suspicious financial transactions

Suspicious transaction reports are important as a means of ensuring customer due diligence in identifying potential money laundering activities.

Required bank reporting procedures, if any, including the use of Suspicious Transaction Reports (STR), and how such reports are reviewed and evaluated Requirements, if any, placed on financial institutions other than banks to provide STR, and how such reports are reviewed and evaluated.

Required bank reporting procedures, if any, including the use of Suspicious Transaction Reports (STR), and how such reports are revised and evaluated.

In addition, please indicate the number of STRs that have led to investigations, prosecutions and or convictions.

Reporting of suspicious and or unusual transactions

1.6.2 How many suspicious transaction reports have been received from these agencies by the anti money laundering unit thus far?

SR IV. Reporting suspicious transaction related to terrorism

Requirements, if any, placed on financial institutions other than banks to provide STR, and how such reports are reviewed and evaluated.

It also requests them to submit reports on suspicious transfers.

A financial intelligence unit is a national centre for receiving (and, as permitted, requesting), analysing and disseminating suspicious transaction reports and other information regarding potential money laundering.

Any such STR s are to be submitted the Bank Supervision Division but so far, no Casino has submitted any such reports.

c) Suspicious transactions, irrespective of the amount mentioned in this paragraph.

1.4 In addition, the CTC would appreciate knowing how many suspicious transaction reports (STRs) were received by the Central Bank's unit on money laundering and suspicious cases from the following entities outlined on page 5 of the first report

In addition, the exercise of due diligence with customers and financial transactions, as well as established procedures to report suspicious transactions, are also important.

The Decree makes it obligatory to identify customers and report suspicious transactions in respect of the following activities.

The annexed organizational chart provides an outline of the authorities required to report to the unit and the suspicious transaction reports received from the banks, exchange offices and finance companies referred to under point 1.4.

These requirements are contained within the FTR Act.

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

In the report on suspicious transaction the grounds for the transaction to be considered suspicious should also be mentioned.

It could be noted here that the criteria for suspicious transaction reporting vary from one State to another some set out a certain amount of money as the threshold for reporting, whereas others take a more generic approach, where banks are required to report transactions they think are suspicious , regardless of the amount.

The CTC is grateful for the detailed report on suspicious transactions (at page 13) of the fourth report.

Governments were requested to report on established working procedures for the monitoring and identification of suspicious transactions involving precursors.

Suspect flows of funds to foundations and non profit organisations are actively identified by the Unusual Transactions Disclosures Office.

This requirement is set out in section 15 of the FTR Act.

All suspicious activity reports, immediately upon receipt, are initially analyzed with a view to determining the identity and existence of persons businesses organizations, named on the Suspicious Activity Reports.

They had adopted a number of measures to curb the financing of terrorist acts through the effective monitoring of banking activities in order to identify any suspect transactions.

Translator's note The Convention has no article 18 (b) as such article 18 has four numbered paragraphs, with paragraphs 1 to 3 each having a subparagraph (b).

Only 24 States require charities and other non profit organisations to report suspicious transactions.

Under section 17B of the FTR Act, all international funds transfer instructions (IFTIs) sent into and out of the country are reported to AUSTRAC.

The persons (entities) submitting STRs, shall also suspend or terminate the transactions of those accounts that are suspected in legalizing illegal income and financing of terrorism upon the decree by the Central Bank.

Almost 74 per cent of States had taken measures to put the know your client principle into practice, a slight increase compared with 72 per cent in the second reporting period and 50 in the first. The approaches taken to implementing know your client varied.

1.11 The Supervision Department of the Central Bank is the body empowered to receive reports of suspicious transactions in Jordanian banks.

To date, the unit on money laundering and suspicious cases has not received any suspicious transaction reports from hawala brokers.

The role of a FIU is to analyse Suspicious Transactions Reports filed by financial institutions and other obligated non financial entities and to disseminate that intelligence to appropriate national authorities for investigation or prosecution.

For example, FATF recommendations relating to customer due diligence, record keeping, suspicious transactions, anti money laundering controls policies and staff training.