FIU Checks on Suspicious Transactions there FINnet Gateway in ‘Test Mode’ from 31 August 2012

[RBI Circular No. 43 dated 12^th October 2012]

Sub: Uploading of Reports in 'Test Mode' on FINnet Gateway

Please refer to Annex- III to A.P.(DIR Series) Circular No.18 [ A.P.(FL/RL Series) Circular No. 05 ] dated November 27, 2009, prescribing reporting formats for Authorised Persons (Indian Agents) as required under provisions of PML Rules 2005. In this connection, we invite your attention to FIU-IND's letter F.No.9-29/2011-FIU-IND dated March 31, 2011 advising Authorised Persons (Indian Agents) to go through reporting formats viz. Cash Transaction Reports (CTRs) and Suspicious Transaction Reports (STRs) and initiate urgent steps to develop capacity to generate reports compliant with the XML format specifications and be in readiness to implement the new format as and when advised by the FIU-IND.

2. FIU-IND have now advised vide their letter F.No.9-29/2011-FIU-IND dated August 28, 2012 (contents of the letter given in the Annex ), that all Authorised Persons (Indian Agents) should initiate submission of reports on the FINnet Gateway in 'Test Mode' from August 31, 2012 to test their ability to upload the report electronically. Such submission in 'Test Mode' would continue till FIU-IND informs the Authorised Persons (Indian Agents) about 'go-live' of the project. Authorised Persons (Indian Agents) are also required to continue to submit the existing reports in CD as presently required till further notice. All Authorised Persons (Indian Agents) are accordingly advised to take action as required by FIU-IND.

3. All other instructions issued vide A.P.(DIR Series) Circular No. 18 [ A.P.(FL/RL Series) Circular No. 05 ] dated November 27, 2009, as amended from time to time will remain unchanged.

4. Please advise your Principal Officer to acknowledge receipt of this circular.

5. The directions contained in this Circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and also under the, Prevention of Money Laundering Act, (PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009 and Prevention of Money-Laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005 as amended from time to time and are without prejudice to permission/approvals, if any, required under any other law.

OFFICE MEMORANDUM

F.No.9-29/2011-FIU-IND dated 28^th August 2012

Subject: Upload of Reports in 'Test Mode' on FINnet Gateway

Kindly refer to OM of even no. dated 31st March, 2011 releasing the new reporting format under Project FINnet. The reporting entities were advised to initiate urgent steps to build capacity to generate reports, which are compliant with the XML format specifications.

2. You may kindly now advise the reporting entities to initiate submission of reports on the FINnet gateway in 'TEST MODE' from 31-08-2012 to test their ability to upload the report electronically. The reporting entities may contact FIU Help Desk at email or phone numbers 011-24109792/93 for any clarification or assistance.

3. The reporting entities may continue to submit the reports to FIU-IND in CD form as per earlier prescribed reporting format till go-live date (provisional go-live date is 1st October, 2012) after which the earlier procedure will be discontinued. The go-live date will be communicated to the reporting entities separately.

4. This issues with the approval of Director (FIU-IND).