AML CFT Legislation in INDIA
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Which institution coordinates India's compliance with FATF Recommendations?
FATF Cell in Department of Economic Affairs, Ministry of Finance acts as single point contact.
When was FIU-IND established and under which department?
FIU-IND established 18 November 2004 under Department of Revenue, Ministry of Finance.
Who does FIU-IND report to?
FIU-IND reports directly to Economic Intelligence Council chaired by Union Finance Minister.
What is the CTR reporting threshold in India?
Cash deposits/withdrawals above ₹10 lakh per month or integrally connected transactions exceeding threshold.
What is the CBWTR threshold for cross-border wire transfers?
Cross-border wire transfers above ₹5 lakh or equivalent foreign currency must be reported.
What NTR reporting threshold applies to Non-Profit Organisations?
NPO receipts above ₹10 lakh must be filed as NTR by reporting entities.
When did FIU-IND launch FINnet online reporting system?
FINnet launched October 2012 to replace manual filings with online reporting via FINgate portal.
What key features does upgraded FINnet 2.0 provide?
FINnet 2.0 adds AI/ML risk scoring, network analysis, advanced analytics, and Learning Management System.
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