UBD.BPD (PCB) Cir.No. 54/14.01.062/2013-14
April 7, 2014
The Chief Executive Officer
All Primary (Urban) Co-operative Banks.
Madam / Dear Sir,
Reporting of Cross Border Wire Transfer Report on FINnet Gateway – Primary (Urban) Co-operative Banks (UCBs)
Please refer to our circular UBD.BPD (PCB) Cir.No.19/14.01.062/2012-13 dated October 15, 2012 on ‘Uploading of Reports in ‘Test Mode’ on FINnet Gateway’ wherein UCBs were advised to upload reports as required by FIU-IND using only FINnet gateway.
2. With the amendments to Prevention of Money Laundering (PML) Rules, notified by the Government of India vide Notification No. 12 of 2013 dated August 27, 2013 and in terms of amended Rule 3, every reporting entity is required to maintain a record of all transactions including the record of all cross border wire transfers of more than Rs. 5 lakh or its equivalent in foreign currency, where the place of either origin or destination of the fund is in India. FIU-IND has advised that the information of all such transactions may be furnished to Director, FIU-IND by 15th of the succeeding month.
3. In this regard, it is advised that the ‘Transaction Based Reporting Format’ (TRF) already developed by FIU-IND and being used for reporting Cash Transaction Reports (CTRs), Suspicious Transaction Reports (STRs) and Non-Profit Organizations Transaction Reports (NTRs) may be used for reporting the Cross Border Wire Transfers. The information may be furnished electronically in the FIN-Net module developed by FIU-IND. All UCBs are accordingly advised to take action as required by FIU-IND and ensure that reports are submitted in time as per the schedule.
4. The format along with sample data filled in as an illustration is available in the ‘Downloads’ section of the FIU-IND website (http://fiuindia.gov.in).