Regulatory Alerts2020-11-05 | Circular No.11Red Flag Indicators for Central Directorate of National Savings (CDNS)
Reporting entities including CDNS must promptly submit Suspicious Transactions Reports to the Financial Monitoring Unit as mandated by the Anti-Money Laundering Act of 2010. The FMU has developed specific red flag indicators in coordination with the National Savings Supervisory Board to assist CDNS in identifying potential money laundering and terrorism financing. While individual indicators may not confirm illicit activity, institutions should evaluate combinations of these flags alongside broader client profile and financial behavior analysis.
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