FIU unveils alert indicators on anti-money laundering
India’s Financial Intelligence Unit releases new guidelines to address emerging risks in market infrastructure institutions
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New Delhi: A fresh set of ‘alert indicators’ have been issued by India’s Financial Intelligence Unit (FIU) for capital markets, insurance companies, online payment gateway intermediaries and crypto currency service providers for effective checking of suspicious transactions in their channels as part of the anti-money laundering and counter-terrorism financing regime.
These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act (PMLA) during the 2022-23 financial year and published in a recently released report that has been accessed by PTI.
This is part of the AML and combating the financing of terrorism (CFT) regime followed by the country as part of which financial institutions and intermediaries are mandated to STRs with the FIU which subsequently analyses them.
