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In financial regulation, a Suspicious Activity Report (SAR) or Suspicious Transaction Report (STR) is a report made by a financial institution about suspicious or potentially suspicious activity as required under laws designed to counter money laundering, financing of terrorism and other financial crimes.
A financial intelligence unit (FIU) is a national body or government agency or international organization [1] [2] which collect information on suspicious or unusual financial activity from the financial industry and other entities or professions required to report suspicious transactions, suspected of being money laundering or terrorism financing.
In Macau, the Macau News Agency (MNA) reported that 62 transactions involving more than US$68.2 million that flowed to or from four banks in Macau between 2000 and 2017 were flagged as potentially suspicious money-laundering transactions.
The Australian Transaction Reports and Analysis Centre is Australia's financial intelligence unit to combat money laundering and terrorism financing, which requires every provider of designated services in Australia to report to it suspicious cash or other transactions and other specific information. [31]
A federal judge in Texas on Tuesday lifted an order that blocked the enforcement of an anti-money laundering law that forces millions of business entities to disclose the identities of their real ...
Historically, KYC was an outgrowth of the 1970 Bank Secrecy Act and gained greater urgency after 9-11, containing suspicious activity reports (SAR), anti money laundering (AML), and other ...
The headquarters of Danske Bank in Copenhagen. The Danske Bank money laundering scandal arose in 2017-2018, when it became known that around €800 billion of suspicious transactions had flowed from Estonian, Russian, Latvian and other sources through the Estonia-based bank branch of Denmark-based Danske Bank from 2007 to 2015.
Li and Zhang are both charged with conspiracy to commit money laundering and six counts of international money laundering. If convicted, the defendants face a maximum of 20 years in prison on each ...