(c) Banking and financial institutions registered with the Central Bank of Syria must take precautions and show that they have been careful in their transactions with correspondent banks to avoid involvement in suspect operations, and also to take first rate banks as correspondents.

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

Such operations are subject to regular monitoring by the Central Bank.

How many transfers have in fact been frozen by banks after they have expressed doubts in relation to certain transactions?

31.14 The requirements of 399,900 (see table 31.5) relate to transaction costs and other fees for services provided by banks.

For the time being, however, BCEAO has not been contacted by any bank with regard to suspect transactions.

A note of caution was struck that such an approach might open ways for manipulations in financing transactions (e.g., in a syndicate of banks, the leading bank could include in the transaction a foreign bank and thus bring the transaction under the scope of the draft Convention).

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

The new sub unit would also take over responsibility for the monitoring and reconciliation of bank accounts and recording of banking transactions, on a daily basis.

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.

Furthermore, original documents of that kind would be used frequently in the future for bank to bank transactions.

REQUIRED BANK REPORTING PROCEDURES suspected transactions have been reported by banks, on their volition, using the Suspicious Activity Reports (SAR) reporting procedure. These reports

15. The impossibility of using United States dollars in transactions with foreign entities continues to generate additional expenses, since the banks with which Cuba deals cannot effect transactions directly in international money markets, but must operate through third parties.

Ms. Chung transferred the 5 million proceeds in Goldfingers Bank to 15 bank accounts in country Zeitstaat (suspicious transaction reporting).

For the persons licensed by the Central Bank the criteria for considering the transactions as suspicious are established by the Board of the Central Bank.

Regarding currency transaction report, Central Bank Circular Letter 3098, from June 11th, 2003, established these obligations for financial institutions (banking and non banking financial institutions).

(5) It requires banks, casinos and currency traders to report unusual and suspicious transactions (depending on the amount and origin of the funds) to the Central Bank, and prohibits cash transactions exceeding 5 million Comorian francs ( 12,500) and

The Central Bank has received 9 suspicious transaction reports on money laundering activities.

Third, the interaction between the shadow banking system and the global banks is highly concentrated, because the global banks act as prime brokers, particularly for derivative trades. Data from the US Comptroller of Currency suggest that the top five US banks account for 96 of the total over the counter (OTC) derivative trades in the US.

(4) Deposit banks, designated commercial banks, asset management agencies, security exchanges, securities registration and clearing agencies of a securities firm

(cc) Bank account means, subject to law other than secured transactions law, an account maintained by a bank into which funds may be deposited.

The designated commercial bank shall ensure that the customer can enquire at any time about the balance and changes of the customer s trading settlement funds.

What the Patriot Act did was to prohibit U.S. bank, and U.S. registered foreign banks from doing any businesses with off shore facilities.

Foreign exchange offices are authorized by the Central Bank for dealings in foreign notes and coin in accordance with the foreign exchange regulations in force.

In the Netherlands the Money Transaction Offices Act requires money transfer companies to be registered with the Dutch Central Bank.

Routine transactions of the project company may be further facilitated by adequate commercial banking legislation.

Normative legal acts of the Central Bank can establish other grounds, not mentioned in this part, for considering transactions as suspicious, based on which the persons submitting the reports are bound to regard the transaction as suspicious.

Trade efficiency reduced transaction costs, and in areas such as customs, transport, banking and insurance, it could offer invaluable support to trade.

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

In accordance with article 9, non bank credit and financial institutions are recognized as legal persons with the right to perform certain banking transactions and activities, with the following overall exceptions

(iv) Held additional charge of Judge Banking Court Offences for the entire Punjab from 1996 to March 1997 and in that capacity I conducted trials of accused involved in corrupt banking practices committed in relation to banking transactions and business.

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

28.1 Parties should be allowed to trade and bank emission reductions.

The Central Bank has the legal authority to monitor the origin and destination of such funds and the nature of the transactions.

For example, the country s Central Bank the Czech National Bank uses EDI to exchange information with other banks.

1.7 The CTC notes that the Banking Supervision Department of the Central Bank of Seychelles receives reports of suspicious transactions pursuant to the Guidance Notes on Anti Money Laundering procedures for Seychelles Banks and Financial Institutions, issued by the Central Bank in March 1998 (see page 4 of the first report and page 5 of the supplementary report).

Smart and greedy bankers and traders will always find ways to circumvent new rules

(c) Foreign exchange transactions, inter bank payment systems, transfer of security rights and transfer of economic assets

The designated commercial bank shall sign a customer trading settlement funds custody contract with the securities firm and its customer, setting forth matters such as the deposit and withdrawal, transfer and enquiries of the trading settlement funds, and shall open a general account of customer trading settlement funds for the securities firm according to the requirements of net amount settlement and delivery versus payment of securities trading.

(i) Verification of the identity of the banking or financial institution's regular clients and determination of the true identity of the holder of the economic rights in cases of transactions through agents, under cover of assumed names belonging to persons, institutions or companies or through numbered accounts

Reference was made to the current work of Unidroit on security rights in securities, to the World Bank's Principles and Guidelines for Effective Insolvency and Creditor Rights Systems to the extent they concerned secured transactions, to the Model Law on Secured Transactions and the Principles of EBRD, to the Asian Development Bank's Guide to Movables Registries and to the Inter American Model Law on Secured Transactions of 2002 prepared by the Organization of American States.

Owner of the Congocom comptoir, specializing in gold transactions

For performing banking transactions without a licence issued by the National Bank, a legal person may be closed down, and the activities of an individual entrepreneur may be halted, by the decision of a court, in accordance with established legal procedures (second section of article 134 of the Banking Code).

According to these Rules, commercial banks are obliged to provide the State Tax Committee with information about their clients' transactions amounting, in the case of legal entities, to more than 1,000 times and, in the case of private entrepreneurs, to more than 500 times the minimum wage.

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.