Section 67: Reporting of suspicious financial transactions

67. Reporting of suspicious financial transactions. __ (1) Notwithstanding anything contained in any law for the time being in force, all banks and financial institutions shall pay special attention to all unusual patterns of transactions, which have no apparent economic or lawful purpose and upon suspicion that such transactions could constitute or be related to illicit narcotics activities, the manager or director of such financial institution shall report the suspicious transactions to the Director-General. (2) Whoever fails to supply the information in accordance with sub-section (1) shall be punishable with rigorous imprisonment which may extend to three years, or with fine, or with both.

Effective date: 1997-07-11

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