FIU India - Cross Border Wire Transfer Report
Financial Intelligence Unit - India Reporting
Financial Intelligence Unit – India (FIU-IND) is the central, national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions to enforcement agencies and foreign FIUs.
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.
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
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Kyzer FIU India CBWT Reporting Solution
Kyzer’s Digital FIU CBWTR Reporting offers Most Intuitive, Modern, User-Friendly solution to Generate and Report Cross Border Transactions.
Why Banks Choose Kyzer for CBWTR Reporting
Direct Data Fetch from Swift Raw Files
Bank defined & Raw SWIFT file format handling. Intelligence data extraction for Reporting.
Business Rules to incorporate SWIFT and Transaction data match
Transaction Level Risk Rating as per FIU requirements
Risk Rating incorporated post multiple data combination handling
Customizable as per Banks Risk Policy at Transaction level.
Direct XML File Generation
Pre validation prior to XML file generation
FIU guidelines & changes continuous enhancements
XML File split as per FIU file size requirements
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