Reporting to Financial Intelligence Unit-India. As per Section 12 of PMLA, the company will report information of transaction referred to in clause (a) of sub-section (1) of section 12 read with Rule 3 of the PML Rules relating to cash and suspicious transactions etc. to the Director, Financial Intelligence Unit-India (FIU-IND). Where the principal officer of the company has reason to believe that a single transaction or series of transactions integrally connected to each other have been valued below the prescribed value to so to defeat the provisions of this section, the officer shall furnish information in respect of such transactions to the Director within the prescribed time. The company and its employees will maintain strict confidentiality of the fact of furnishing/ reporting details of suspicious transactions. The company need not submit ‘NIL’ reports in case there are no Cash/Suspicious Transactions, during a particular period.
