FIU India - Cross Border Wire Transfer Reporting

FIU India – Cross Border Wire Transfer Report

The Prevention of Money laundering Act, 2002 and the Rules there under requires every reporting entity (banking company, financial institution and intermediaries) to furnish reports for Cross Border Wire Transfers.

Few Prerequisites:

  • Maintain a record of all transactions in such a manner as to enable it to reconstruct individual transactions, to furnish to the FIU Director
  • Attempted and executed transactions
  • The nature and value of prescribed transaction
  • Verify the identity of its clients
  • Identify the beneficial owner along with detailed proofs
  • Maintain record of documents evidencing identity of its clients and beneficial owners
  • Account files and business correspondence relating to its clients
  • Records with audit to be maintained for a minimum period of 5 years from date of transaction

Fast Filling of FIU India Reporting

  • Streamline compliance process
  • Fast Filing Regulatory Reporting
  • Automated Process
  • Inbuilt XSD validations which helps meet all the FIU reporting requirements
  • User Friendly system reduces Manpower Costs in redundant activity
  • Extraction of Data from various sources such as :
    • CBS
    • Database
    • Trade Finance System
    • Swift files
    • Excel
  • Data Extraction Utility custom built for Customer specific requirements
  • Recon with past XML file reported to FIU can be done (Reports Comparison)
  • In case of suspicious transaction reporting then reporting for similar transaction gets highlighted if found again for the same customer
  • Timely notification, alerts for reporting
  • All regulatory reporting changes covered in AMC


  • Integrated platform with data extraction capability across multiple systems to conduct seamless analytical activity and regulatory compliance reporting
  • Reports extracted in system in following manner
    • Manual File Upload
    • Scheduler Based
    • Direct DB access
    • API linked
  • Frequency of file upload can be defined
  • Maker Checker Approach with configuration of disabling Maker & Checker available with business admin
  • User Friendly UI
  • Out of box reports available
  • Special filter options across the portal for STR filed reports
  • Inbuilt user management and in case of Integration with Active Directory or Single sign on
  • Multiple database support
  • Multiple CBS support
  • Designed secure interfaces between the source and target with a strong reconciliation and data quality check framework. Faster processing made possible with performance tuning

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