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TracfinTraitement du Renseignement et Action Contre Les Circuits Financiers Clandestins (French: Treatment of Information and Action Against Illicit Financial Circuits)
References in periodicals archive ?
COSI, the Systematic Communication of Funds Transfer Information, is a system created to improve financial information available to TracFin from designated professionals and institutions.
TracFin continues to examine ways new anonymous electronic payment instruments, gold, and employee meal tickets (restaurant vouchers provided by employers) are used as alternatives to cash.
TracFin also continues its focus on tax and social benefits fraud.
TracFin also has been increasingly focused on tax and social benefits fraud, closely collaborating with the Budget Ministry and social security organizations.
The information has to be provided to TracFin within 30 days following the month in which the payment was made.
The president of the bar can decide whether or not to pass on the information to TRACFIN.
TracFin has hired new officers, updated its investigative methods, and modernized its information systems, making compliance with the KYC rules easier for covered entities.
The AMF also has an obligation to report any suspicions to TracFin.
TracFin has hired new officers, updated its investigative methods, modernized its information system, and made more data available to the public online.
TRACFIN may exchange information with foreign counterparts that observe similar rules regarding reciprocity and confidentiality of information.
TRACFIN is responsible for analyzing suspicious transaction reports (STRs) filed by French financial institutions and nonfinancial professions.
TRACFIN received 10,842 STRs in 2004, 11,553 in 2005 and 12,047 in 2006.