Financial transactions

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

The Wrong Tax for Europe

Issuing decrees on the suspension of financial transactions

(k) Financial contract means any spot, forward, future, option or swap transaction involving interest rates, commodities, currencies, equities, bonds, indices or any other financial instrument, any repurchase or securities lending transaction, and any other transaction similar to any transaction referred to above entered into in financial markets and any combination of the transactions mentioned above

The draft law establishes under what circumstances a financial transaction is subject to special oversight (in other words, is considered a suspicious financial transaction ).

The legal system in the Netherlands reportedly provided for adequate supervision of financial institutions, as well as those involved in financial transactions, such as notaries, lawyers and car dealers, and required them to report unusual financial transactions.

(4) As regards tradable financial assets, it is required to separately list the beginning of period and end of period fair value of tradable bond investment, tradable equity instrument investment, financial assets which are specified to be measured on fair value and whose fluctuations are included in the current profits and losses, derivative financial assets and other tradable financial assets.

18 International Money Marketing, 14 July 2004.

According to the Anti Money Laundering Act B.E. 2542 (1999), there are 3 kinds of financial transactions that financial institutions have the legal obligation to report to the Anti Money Laundering Office (AMLO), namely 1) cash transaction reports, 2) properties transaction reports and 3) suspicious transaction reports.

(13) As regards tradable financial liabilities, it is required to separately list the beginning of period and end of period fair value of offered tradable bonds, financial liabilities which are specified to be measured on fair value and whose fluctuations are included in the current profits and losses, derivative financial liabilities and other tradable financial liabilities.

These requirements are contained within the FTR Act.

(ii) Heavy duties to be levied on speculative international financial transactions

Article 9The financial assets or liabilities meeting any of the following requirements shall be classified as transactional financial assets or financial liabilities

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.

I've learned this sort of high finance from Frankie himself.

In Australia, alternative remittance dealers fall within the definition of cash dealers' under the FTR Act, and are therefore subject to the same requirements as financial institutions, including in their reporting obligations to AUSTRAC.

The Financial Intelligence Unit also initiates its own analysis of financial transaction reports and disseminates financial intelligence assessments to relevant authorities.

Another recent development which the Financial Services Commission is working on is to introduce legislation to regulate and supervise money transmission services.

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.

The FIU is responsible for investigating money laundering operations, through the financial system, using the mandatory reports submitted by financial entities concerning individuals who may be involved in such activities.

Traded loans (borderline between securities and other financial instruments)

for other categories of financial assets and financial liabilities, the transaction expenses thereof shall be included into the initially recognized amount.

(3)Where there is no available offer or charge for a financial asset or financial liability, but there is no any significant change to the economic environment after the latest transaction day, the enterprise shall adopt the market quoted price of the latest transaction to determine the fair value of the said financial asset or financial liability.

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

Effective cooperation and monitoring of international financial transactions was imperative.

Article 30 of Supreme Decree No. 24771 sets out the obligation of financial entities to submit Suspicious Transaction Reports to the FIU.

A warning mechanism to meet the obligations on banks and financial institutions to report suspicious transactions (including those involving precious metals) and the submission of relevant reports by those banks and non banking financial institutions to a committee specialized in the analysis of financial information.

The Unit assesses cash dealer compliance with the legislation.

Where there is any significant change to the economic environment after the latest transaction day, the enterprise concerned shall adjust its market quoted price of the latest transaction by referring to the available prices or interest rates of similar financial assets or financial liabilities so as to determine the fair value of the said financial asset or financial liability.

A suspended financial transaction may be resumed if the financial monitoring body informs the person conducting the transaction that there is insufficient evidence that one of the parties to the transaction is involved in terrorist activity or is directed by persons involved in terrorist activity.

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

AMLO has received some suspicious transaction reports from financial institutions.

It should be noted that the General Directorate for Investigations of Transactions (DGAIO) is now called the Financial Intelligence Unit (UIF) and is attached to the Ministry of Finance and Public Credit, not the Attorney General's Office.

An extensive list of financial, non bank financial institutions and non financial entities is covered by the legislation, which will in future also include accountants, company and trust service providers, real estate dealers and dealers in precious metals and stones.

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

Over 1.5 million SAR forms had been filed at FinCEN by December 2003, with the volume of SAR filings 45 per cent higher in 2003 than those filed in 1996.

The world community needs to develop methods to address transactions that take place outside the established banking network such as Hawala transactions.

The newest addition to the range of financial services was the Cayman Islands Stock Exchange, which opened on 2 January 1997.

He said that Gavilon has terminated the financial transaction of its account since September.

At present, 21 money transfer offices are registered and 27 branches of these offices.

Holds the powers of the former General Directorate for Investigations of Transactions (DGAIO), the PFF and the regulatory units

Banks and other financial institutions have been provided with the 1267 Committee List and are required to treat any transaction with a person entity on the list as suspicious and submit Suspicious Transaction Returns to the Financial Investigations Unit (FIU).

He also said that the suspension of financial transactions would not lead to reduction of employment positions.

However, the Committee would like to point out that the very fact that a financial institution is under the supervision of a governmental institution does not necessarily mean that attempts to commit financial transactions of a suspicious nature may not take place.