Regulatory Alerts2020-10-08 | Circular No.10Red Flags Indicators for Proliferation Financing
Reporting entities must submit Suspicious Transaction Reports to the Financial Monitoring Unit for activities related to money laundering, terrorism financing, or proliferation financing under the Anti-Money Laundering Act of 2010. The FMU has issued specific red flag indicators to assist these entities in identifying potential proliferation financing risks. While individual red flags are not conclusive evidence of illicit activity, a combination of these indicators, when weighed against a client's overall profile and financial behavior, serves as a basis for determining the necessity of an STR filing.
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