What Banks Look For-Suspicious or Unusual Activity. Today, as money launderers become more sophisticated, all types of financial transactions are facing greater scrutiny.
http://www.cookco.us/financial/suspicious_activity.htm
A customer or group of customers who attempt to hide the size of a large cash transaction by breaking it into multiple, smaller transactions by, for example, conducting the smaller transactions-. -At different times of the day. -With different MSB cashiers on the same day or different days.
http://www.cookco.us/financial/suspicious_activity.htm
When to send a report. You have to send a suspicious transaction report to us, within 30 days from the day you suspect that a transaction or attempted transaction could be related to a money laundering offence or a terrorist financing offence. The suspicious transaction can be in any amount. This reporting obligation also extends to your employee, unless your employee reports their suspicion to a superior. If the suspicious transaction is not reported to a superior, your employee has an obligation to complete and send us a paper copy of the report.
http://www.fintrac-canafe.gc.ca/msb-esm/reports-declarations/susp-eng.asp
-Purchase traveler's checks with cash just under $3,000 over several days. -Initiate multiple money transfers to the same receiver, each transfer in an amount under $3,000, over several days.
http://www.cookco.us/financial/suspicious_activity.htm
More recently, anti-money laundering efforts have focused on the use of money transfers, both through bank and non-bank money transfer systems, and other means of moving funds. Today, as money launderers become more sophisticated, all types of financial transactions are facing greater scrutiny.
http://www.cookco.us/financial/suspicious_activity.htm
One of the best ways to identify suspicious transactions is by using common indicators. If you suspect your client is conducting a transaction that is related to a money laundering offence or a terrorist financing offence, you have to report it to us. Make sure you provide enough information to help us understand your suspicion.
http://www.fintrac-canafe.gc.ca/msb-esm/reports-declarations/susp-eng.asp
An accountant means a chartered accountant, a certified general accountant or a certified management accountant. An accounting firm means an entity that is in the business of providing accounting services to the public that has at least one accountant who is a partner, an employee or an administrator.
http://www.fintrac.gc.ca/publications/guide/Guide2/2-eng.asp
Please refer to Guideline 3: Submitting Suspicious Transaction Reports to FINTRAC for more information about reporting timelines and for information on how to make a report. When you have to report a suspicious transaction to FINTRAC, you have to keep a copy of the report. Making a suspicious transaction report to FINTRAC does not prevent you from reporting suspicions of money laundering or terrorist financing directly to law enforcement. FINTRAC encourages you to maintain established relationships with law enforcement.
http://www.fintrac.gc.ca/publications/guide/Guide2/2-eng.asp
An accounting transaction is a business event having a monetary impact on the financial statements of a business. It is recorded in the accounting records of the business. Examples of accounting transactions are: 1  Sale in cash to a customer. 2  Sale on credit to a customer. 3  Receive cash in payment of an invoice owed by a customer. 4  Purchase fixed assets from a supplier. 5  Record the depreciation of a fixed asset over time.
http://www.accountingtools.com/questions-and-answers/what-is-an-accounting-transaction.html
Suspicious transactions are financial transactions that you have reasonable grounds to suspect are related to the commission of a money laundering offence. This includes transactions that you have reasonable grounds to suspect are related to the attempted commission of a money laundering offence.
http://www.fintrac.gc.ca/publications/guide/Guide2/2-eng.asp
what is a suspicious transaction when accounting
In accounting, a suspicious transaction is a financial transaction that you have reasonable grounds to suspect are related to the commission of a money laundering offence. Suspicious transactions are financial transactions that you have reasonable grounds to suspect are related to the commission of a money laundering offence. 