FIU Current Affairs - 2020

What is ‘goAML’ launched by UAE?

The United Arab Emirates (UAE) has become 1st country in Gulf to launch new anti-money laundering platform called ‘goAML’ (Anti-Money Laundering). It is a one-stop solution, launched by UAE to crack down on organised financial crimes. All about goAML Developer: It is the new anti-money laundering platform was launched by UAE’s Financial Intelligence Unit (FIU) Read More…

FIU categorises 9,491 NBFCs as high risk for PMLA non-compliance

The Financial Intelligence Unit (FIU) under Finance Ministry has categorised around 9,491 non-banking financial companies (NBFC) as high risk prone financial institutions as they have not complied with stipulated provision of Prevention of Money Laundering Act (PMLA). There are about 12,000 NBFCs in country at present and high risk financial NBFCs account for about 80% Read More…

BSE sets up new system for reporting suspicious trades

Bombay Stock Exchange has instituted new system Suspicious Transaction Reports (STRs) for reporting suspicious trades in order to check money laundering through stock markets. The national stock exchange has asked its members to report details of the STRs submitted to the government’s Financial Intelligence Unit (FIU) on a monthly basis. As per new rules Trading Read More…