What is JFIU?
“JFIU” stands for the Joint Financial Intelligence Unit. The Unit was set up in 1989. Pursuant to section 25A(1) of the Organized and Serious Crimes Ordinance (“OSCO”) Cap.
How do you find suspicious transactions?
An STR should include the following details:
- personal particulars (name, identity card or passport number, date of birth, address, telephone number, bank account number) of the person(s) or company involved in the suspicious transaction;
- details of the suspicious financial activity;
How do you identify a suspicious transactions report str?
STR (Suspicious Transaction Reports)
- Gives rise to a reasonable ground of suspicion that it may involve the proceeds or crime; or.
- Appears to be made in circumstances of unusual or unjustified complexity; or.
- Appears to have no economic rationale or bonafide purpose.
What is FATF and FIU?
The Financial Action Task Force on money laundering (FATF) is an intergovernmental organization set up in 1989 by the G7. FIU-the Netherlands participates in FATF meetings and also plays an active role in FATF evaluations.
How does money Muling work?
Using a money mule is a form of money laundering. Usually it works by a money mule agreeing to share their bank details so that cash can be deposited into their account for them to follow instructions to send it into another bank account.
How do I find unusual transactions?
Unexpected movements in transactions and account management. Transactions showing significant fluctuation in terms of the volume or frequency of the customer’s business. Small deposits and transfers that are immediately allocated to accounts in other countries or regions.
What are suspicious transactions?
A suspicious transaction is a transaction that causes a reporting entity to have a feeling of apprehension or mistrust about the transaction considering its unusual nature or circumstances, or the person or group of persons involved in the transaction.
What is PEP declaration?
The definition of politically exposed person (PEP) is an individual with a high profile political role, or who has been entrusted with a prominent public function. They present a higher risk for involvement in money laundering and/or terrorist financing because of the position they hold.
What does jfiu stand for in Hong Kong?
JFIU stands for Joint Financial Intelligence Unit (Hong Kong)
How to file a Str with the jfiu?
If you want to file an STR via STREAMS, you have to complete the application form and return to the JFIU either by fax (2529 4013) or email ( [email protected] ). If you need any further information, please feel free to contact the JFIU. What to Report in an STR? An STR should include the following details:
When was the Joint Financial Intelligence Unit created?
About the JFIU. “JFIU” stands for the Joint Financial Intelligence Unit. The Unit was set up in 1989. Pursuant to section 25A (1) of the Organized and Serious Crimes Ordinance (“OSCO”) Cap. 455 and the Drug Trafficking (Recovery of Proceeds) Ordinance (“DTROP”) Cap. 405, as well as section 12 (1) of the United Nations (Anti-Terrorism Measures)