Suspicious Transaction Report

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Suspicious Transaction Report

A report a drug store or other company may file with the authorities if one believes a person is purchasing goods to produce methamphetamine. In general, a suspicious activity report is filed if a person is buying legal goods (such as cough medicine, which contains ingredients used to make methamphetamine) in such large quantities that the seller reasonably believes that there may be an ulterior motive in the purchase.
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The report had mentioned that 29 fake accounts were identified by the Federal Investigation Agency (FIA) which had laundered Rs42 billion, however, the team further discovered 11,500 bank accounts of 924 account holders, 59 Suspicious Transaction Reports (STRs) and 24,500 Cash Transactions Reports (CTRs).
The number of suspicious transaction reports reported during the 2018/19 financial year was 1328, a decrease of two per cent from 1356 reports in 2017/18.
The UAE Central Bank said in its 2018 annual report that 7,404 suspicious transaction reports (STRs) were received from banks and other financial, commercial and economic entities, in addition to 1,516 reports on suspected fraud - an increase of 18.2 per cent from last year.
A study titled "A risk assessment on the Philippines' exposure to external threats based on submitted suspicious transaction reports" covered 161,650 reports with an aggregate amount of P17.9 trillion submitted by Bangko Sentral ng Pilipinas (BSP) supervised financial institutions such as banks and money service businesses from January 2013 to December 2017.
Bank Negara Malaysia (BNM) manager Ahmad Farhan Sharifuddin confirmed that anti-money laundering laws require reporting institutions such as banks to report suspicious transactions in their clients' accounts to BNM via Suspicious Transaction Reports (STR).
He said the 70-member JIT, comprising officials of Federal Board of Revenue, State Bank of Pakistan, FIA and other institutions, checked some 11,500 accounts of 424 individuals and 500 various entities, besides analysing 59 Suspicious Transaction Reports (STRs) and 24,500 Cash Transactions Reports (CTRs).
Media was also informed that the FBR will receive details of Benami accounts from the State Bank of Pakistan which fell in the category of Suspicious Transaction Reports where the transaction amount is over Rs10 million.
The report had mentioned that 29 fake accounts were identified by the Federal Investigation Agency (FIA) which laundered Rs42 billion, however, the team further discovered 11,500 bank accounts of 924 account holders, 59 Suspicious Transaction Reports (STRs) and 24,500 Cash Transactions Reports (CTRs).
About 8,707 suspicious transaction reports (STRs) were issued in 2018 by the Financial Monitoring Unit (FMU), showing almost 57 per cent growth over 5,548 STRs of 2017.
Meanwhile, the Financial Monitoring Unit has issued 8,707 suspicious transaction reports (STRs) in 2018, as compared to 5,548 STRs issued in 2017 in Pakistan.
(TAP) - The Tunisian Commission for Financial Analysis (CTAF), an administrative financial intelligence unit fighting money laundering and analysing suspicious transaction reports, has frozen 30 suspicious bank accounts in 2018 and filed 30 cases with the public prosecutor.