When the girlfriend came back, he said to her: He wants to know about FTRA.
I'm not even FTRA and you're already starting to piss me off.
provides for the collection of data relating to suspicious financial transactions to facilitate the prevention, detection, investigation and prosecution of the offences on money laundering and financing of terrorism.
memorabilia, including the flag Silveria signed at a FTRA
safehouse in Roseville the night before his capture, will be on display.
Project scope includes the full installation and configuration of FTRA
The financial institutions listed under Section 2 of the FTRA must identify and verify the identity of customers opening an account or entering into a business relationship with the financial institution, or when conducting an an electronic funds transfer of any amount or an occasional transaction exceeding VT 1 million (approximately $8,000).
FTRA amendments mandate that the nature of the transaction, the amount of the transaction, the currency in which it was denominated, the date the transaction was conducted, and the parties to the transaction be maintained by covered entities for a period of six years after the completion of the transaction.
requires financial and nonfinancial institutions to report suspicious transactions to the financial intelligence unit (FIU) when the institution suspects or has reason to believe that any transaction involves the proceeds of crime.
The FTRA imposes certain reporting obligations on 26 different types of institutions, including banks, offshore banking businesses, offshore insurance businesses, casinos, gambling services, insurers, financial advisors, solicitors/attorneys, accountants, financial regulators, lotteries and money remitters.
The FTRA requires the FSC to assess the compliance by licensed financial institutions with customer due diligence and record keeping requirements.
Although the amendments have been withdrawn from Parliament twice, FTRA amendments were finally passed in November 2005 and enacted in late February 2006.
However, section 17(3) of the new amended FTRA clearly states that the new secrecy-overriding provision in the FTRA overrides section 125 of the ICA.