The main Function of FIU-IND : The main function of FIU-IND is to receive cash / suspicious transaction reports, analyse them and, as appropriate, disseminate valuable functional information to to intelligence / enforcement agencies and regulatory authorities.
The functions of FIU-IND are :
- Collection of Information : Act as the central receptoin point for receiving Cash Transaction Reports (CTRs) and Suspicious Transaction Reports (STRs) from various reporting entities.
- Analysis of Information : Analyze received information in order to uncover patterns transactions suggesting suspicion of money laundering and related crimes.
- Sharing of Information: Share information with national intelligence / law enforcement agencies, national regulatory authorities and foreign Financial Intelligence Units.
- Act as Central Repository : Establish and maintain national data base on cash transactions and suspicious transactions on the basis of reports received from reporting entities.
- Coordination : Coordinate and strengthen collection and sharing of financial intelligence through an effective national, regional and global network to combat money laundering and related crimes.
- Research and Analysis : Monitor and identity strategic key areas on money laundering trends, typologies and developments.